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Sangamon Sun

Friday, November 22, 2024

Former state school employee Bryant paid in $147K to teachers' pension fund, could collect $2.49M in retirement

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Former state school employee Theresa Bryant, who retired in May 2018, saved $147,491 toward a pension over 22 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Bryant would collect as much as $2.49 million, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Bryant received $52,416 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Bryant will have already received $162,012 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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