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Kendall County Times

Thursday, December 26, 2024

Former state school employee Bridge paid in $139K to teachers' pension fund, could collect $3.38M in retirement

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Former state school employee Laurie Bridge, who retired in June 2016, saved $138,991 toward a pension over 36 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Bridge would collect as much as $3.38 million, according to a projection by Local Government Information Services (LGIS), which publishes Kendall County Times.

The projection assumes Bridge received $71,083 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Bridge will have already received $144,298 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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