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McLean County Times

Tuesday, November 26, 2024

Former state school employee Bray paid in $123K to teachers' pension fund, could collect $2.61M in retirement

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Former state school employee Patricia Bray, who retired in May 2016, saved $123,455 toward a pension over 31 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Bray would collect as much as $2.61 million, according to a projection by Local Government Information Services (LGIS), which publishes McLean County Times.

The projection assumes Bray received $54,801 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Bray will have already received $169,384 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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