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West Cook News

Saturday, April 20, 2024

Former state school employee Bogren paid in $226K to teachers' pension fund, could collect $5.38M in retirement

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Former state school employee Steven Bogren, who retired in July 2017, saved $226,172 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, Bogren would collect as much as $5.38 million, according to a projection by Local Government Information Services (LGIS), which publishes West Cook News.

The projection assumes Bogren received $113,136 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Bogren will have already received $229,666 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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