Quantcast

McHenry Times

Monday, May 20, 2024

Former state school employee Brown paid in $105K to teachers' pension fund, could collect $1.87M in retirement

Shutterstock 121161052

Former state school employee Deborah Brown, who retired in May 2017, saved $104,618 toward a pension over 25 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 $1.87 million, according to a projection by Local Government Information Services (LGIS), which publishes McHenry Times.

The projection assumes Brown received $39,345 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Brown will have already received $121,611 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

!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