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West Cook News

Saturday, April 20, 2024

Former state school employee Brenson paid in $249K to teachers' pension fund, could collect $3.64M in retirement

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Former state school employee Julia Brenson, who retired in December 2018, saved $249,223 toward a pension over 27 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Brenson would collect as much as $3.64 million, according to a projection by Local Government Information Services (LGIS), which publishes West Cook News.

The projection assumes Brenson received $76,511 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Brenson will have already received $320,092 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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