Former state school employee Albrecht paid in $238K to teachers' pension fund, could collect $6.08M in retirement

By Local Labs News Service

Aug 1, 2016

Former state school employee Bradley Albrecht, who retired in July 2016, saved $238,289 toward a pension over 45 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Albrecht would collect as much as $6.08 million, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Albrecht received $127,708 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Albrecht will have already received $259,247 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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River Ridge Community Unit School District 210

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