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Carbondale Reporter

Monday, December 23, 2024

Former state school employee Brown paid in $141K to teachers' pension fund, could collect $2.8M in retirement

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Former state school employee Sandra Brown, who retired in July 2017, saved $140,667 toward a pension over 25 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 $2.8 million, according to a projection by Local Government Information Services (LGIS), which publishes Carbondale Reporter.

The projection assumes Brown received $58,873 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Brown will have already received $181,970 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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