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Rockford Sun

Friday, November 22, 2024

Former state school employee Guensburg paid in $189K to teachers' pension fund, could collect $2.73M in retirement

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Former state school employee Susan Guensburg, who retired in June 2016, saved $188,814 toward a pension over 30 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Guensburg would collect as much as $2.73 million, according to a projection by Local Government Information Services (LGIS), which publishes Rockford Sun.

The projection assumes Guensburg received $57,317 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Guensburg will have already received $239,794 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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