Former state school employee Rourke paid in $216K to teachers' pension fund, could collect $4.36M in retirement

By Local Labs News Service

Jul 1, 2016

Former state school employee Daniel Rourke, who retired in June 2016, saved $216,458 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, Rourke would collect as much as $4.36 million, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Rourke received $91,685 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Rourke will have already received $283,390 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Ball-Chatham Community Unit School District 5

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