Former state school employee Brandon paid in $9K to teachers' pension fund, could collect $109K in retirement

By Local Labs News Service

May 1, 2016

Former state school employee Stanley Brandon, who retired in April 2016, saved $9,046 toward a pension over 7 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Brandon would collect as much as $109,168, according to a projection by Local Government Information Services (LGIS), which publishes NW Illinois News.

The projection assumes Brandon received $2,294 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Brandon will have already received $9,598 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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