Quantcast

West Cook News

Monday, November 18, 2024

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

Shutterstock 113962678

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.

ORGANIZATIONS IN THIS STORY

!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

MORE NEWS