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Kendall County Times

Saturday, November 23, 2024

Former state school employee Brown paid in $165K to teachers' pension fund, could collect $3.55M in retirement

Money 05

Former state school employee Deborah Brown, who retired in May 2016, saved $164,635 toward a pension over 30 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Brown would collect as much as $3.55 million, according to a projection by Local Government Information Services (LGIS), which publishes Kendall County Times.

The projection assumes Brown received $74,651 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Brown will have already received $230,740 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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