Former state school employee Brandenburg paid in $112K to teachers' pension fund, could collect $2.69M in retirement

By Local Labs News Service

Jan 1, 2019

Former state school employee Kirk Brandenburg, who retired in December 2018, saved $111,807 toward a pension over 35 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Brandenburg would collect as much as $2.69 million, according to a projection by Local Government Information Services (LGIS), which publishes McLean County Times.

The projection assumes Brandenburg received $56,472 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Brandenburg will have already received $114,638 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Prairie Central Community Unit School District 8

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