Former state school employee Birch paid in $191K to teachers' pension fund, could collect $4.65M in retirement

By Local Labs News Service

Jul 1, 2016

Former state school employee Kathleen Birch, who retired in June 2016, saved $190,588 toward a pension over 37 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Birch would collect as much as $4.65 million, according to a projection by Local Government Information Services (LGIS), which publishes Will County Gazette.

The projection assumes Birch received $97,675 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Birch will have already received $198,280 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

ORGANIZATIONS IN THIS STORY

South Will Cnty Coop Spec Ed

!RECEIVE ALERTS

The next time we write about any of these orgs, we’ll email you a link to the story. You may edit your settings or unsubscribe at any time.

Sign-up

DONATE

Help support the Metric Media Foundation's mission to restore community based news.

Donate