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Sangamon Sun

Sunday, May 19, 2024

Former state school employee Bunch paid in $4K to teachers' pension fund, could collect $245K in retirement

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Former state school employee Cathie Bunch, who retired in December 2018, saved $3,821 toward a pension over 5 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Bunch would collect as much as $245,112, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Bunch received $5,152 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 1 years of retirement, Bunch will have already received $5,152 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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