Former state school employee Buss paid in $234K to teachers' pension fund, could collect $5.82M in retirement

By Local Labs News Service

Jul 1, 2018

Former state school employee Timothy Buss, who retired in June 2018, saved $233,531 toward a pension over 35 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Buss would collect as much as $5.82 million, according to a projection by Local Government Information Services (LGIS), which publishes SE Illinois News.

The projection assumes Buss received $122,299 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Buss will have already received $248,267 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Wabash Community Unit School District 348

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