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Macon Reporter

Monday, November 25, 2024

Former state school employee Bifulk paid in $10K to teachers' pension fund, could collect $267K in retirement

Money 04

Former state school employee Judith Bifulk, who retired in October 2017, saved $10,473 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, Bifulk would collect as much as $266,749, according to a projection by Local Government Information Services (LGIS), which publishes Macon Reporter.

The projection assumes Bifulk received $5,606 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Bifulk will have already received $11,380 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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