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Peoria Standard

Tuesday, December 24, 2024

Former state school employee Brodt paid in $63K to teachers' pension fund, could collect $986K in retirement

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Former state school employee Jean Brodt, who retired in May 2016, saved $62,873 toward a pension over 18 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Brodt would collect as much as $986,324, according to a projection by Local Government Information Services (LGIS), which publishes Peoria Standard.

The projection assumes Brodt received $20,731 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Brodt will have already received $64,078 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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