Quantcast

Peoria Standard

Friday, March 14, 2025

Former state school employee Reining paid in $93K to teachers' pension fund, could collect $1.18M in retirement

Money 08

Former state school employee Brice Reining, who retired in May 2018, saved $92,631 toward a pension over 21 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Reining would collect as much as $1.18 million, according to a projection by Local Government Information Services (LGIS), which publishes Peoria Standard.

The projection assumes Reining received $24,813 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Reining will have already received $103,808 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

MORE NEWS