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

Schools

By West Cook News | May 1, 2017

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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.

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