Former state school employee Obernuefemann paid in $201K to teachers' pension fund, could collect $5.66M in retirement

By Local Labs News Service

Aug 1, 2017

Former state school employee Louis Obernuefemann, who retired in July 2017, saved $200,823 toward a pension over 34 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Obernuefemann would collect as much as $5.66 million, according to a projection by Local Government Information Services (LGIS), which publishes Metro East Sun.

The projection assumes Obernuefemann received $119,057 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Obernuefemann will have already received $241,686 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Belle Valley School District 119 Board

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