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East Central Reporter

Thursday, April 18, 2024

Former state school employee Buhnerkempe paid in $87K to teachers' pension fund, could collect $1.51M in retirement

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Former state school employee Karen Buhnerkempe, who retired in May 2018, saved $86,676 toward a pension over 26 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Buhnerkempe would collect as much as $1.51 million, according to a projection by Local Government Information Services (LGIS), which publishes East Central Reporter.

The projection assumes Buhnerkempe received $31,658 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Buhnerkempe will have already received $97,852 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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