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Sangamon Sun

Friday, April 26, 2024

Former state school employee Brewer paid in $120K to teachers' pension fund, could collect $2.38M in retirement

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Former state school employee Deborah Brewer, who retired in May 2018, saved $120,268 toward a pension over 28 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Brewer would collect as much as $2.38 million, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Brewer received $50,008 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Brewer will have already received $154,569 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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