Former state school employee O'Brien paid in $14K to teachers' pension fund, could collect $237K in retirement

By Local Labs News Service

Jul 1, 2016

Former state school employee Joseph O'Brien, who retired in June 2016, saved $14,441 toward a pension over 12 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, O'Brien would collect as much as $236,588, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes O'Brien received $4,972 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, O'Brien will have already received $15,368 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Riverton Community Unit School District 14

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