Quantcast

Peoria Standard

Monday, November 25, 2024

Former state school employee Brown paid in $23K to teachers' pension fund, could collect $520K in retirement

Money 02

Former state school employee Robyn Brown, who retired in December 2017, saved $22,931 toward a pension over 10 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 $520,339, according to a projection by Local Government Information Services (LGIS), which publishes Peoria Standard.

The projection assumes Brown received $10,937 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Brown will have already received $33,805 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

ORGANIZATIONS IN THIS STORY

!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