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McHenry Times

Monday, May 20, 2024

Former state school employee Bryak paid in $42K to teachers' pension fund, could collect $717K in retirement

Money 01

Former state school employee Geralyn Bryak, who retired in March 2017, saved $42,230 toward a pension over 12 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Bryak would collect as much as $717,479, according to a projection by Local Government Information Services (LGIS), which publishes McHenry Times.

The projection assumes Bryak received $15,080 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Bryak will have already received $46,610 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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