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Dupage Policy Journal

Thursday, April 18, 2024

Former state school employee Brooks paid in $179K to teachers' pension fund, could collect $3.39M in retirement

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Former state school employee Mary Brooks, who retired in June 2017, saved $178,934 toward a pension over 34 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Brooks would collect as much as $3.39 million, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Brooks received $71,271 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Brooks will have already received $220,291 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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