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West Central Reporter

Monday, November 25, 2024

Former state school employee Buhlig paid in $120K to teachers' pension fund, could collect $2.42M in retirement

Money041

Former state school employee Lisa Buhlig, who retired in May 2017, saved $119,585 toward a pension over 35 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Buhlig would collect as much as $2.42 million, according to a projection by Local Government Information Services (LGIS), which publishes West Central Reporter.

The projection assumes Buhlig received $50,801 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Buhlig will have already received $157,021 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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