Quantcast

DeKalb Times

Sunday, November 24, 2024

Former state school employee Brady paid in $55K to teachers' pension fund, could collect $804K in retirement

Money272

Former state school employee Laura Brady, who retired in August 2017, saved $55,100 toward a pension over 11 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Brady would collect as much as $804,348, according to a projection by Local Government Information Services (LGIS), which publishes DeKalb Times.

The projection assumes Brady received $16,906 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Brady will have already received $70,727 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

MORE NEWS