Former state school employee Burlingham paid in $162K to teachers' pension fund, could collect $3.04M in retirement

By Local Labs News Service

Jun 1, 2016

Former state school employee Elizabeth Burlingham, who retired in May 2016, saved $161,913 toward a pension over 36 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Burlingham would collect as much as $3.04 million, according to a projection by Local Government Information Services (LGIS), which publishes NW Illinois News.

The projection assumes Burlingham received $63,843 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Burlingham will have already received $197,332 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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