West Cook News

West Cook News

Friday, December 13, 2019

Former state school employee Brown paid in $51K to teachers' pension fund, could collect $1.45M in retirement


By West Cook News | May 1, 2017

Shutterstock 385535740

Former state school employee Mark Brown, who retired in April 2017, saved $51,112 toward a pension over 23 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Brown would collect as much as $1.45 million, according to a projection by Local Government Information Services (LGIS), which publishes West Cook News.

The projection assumes Brown received $30,536 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Brown will have already received $61,988 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

Want to get notified whenever we write about Oak Park - River Forest School District 200 ?

Sign-up Next time we write about Oak Park - River Forest School District 200, we'll email you a link to the story. You may edit your settings or unsubscribe at any time.

Organizations in this Story

Oak Park - River Forest School District 200

More News