Former state school employee Brokaw paid in $125K to teachers' pension fund, could collect $2.28M in retirement

By Local Labs News Service

Jul 1, 2017

Former state school employee Katherine Brokaw, who retired in June 2017, saved $124,737 toward a pension over 27 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Brokaw would collect as much as $2.28 million, according to a projection by Local Government Information Services (LGIS), which publishes NW Illinois News.

The projection assumes Brokaw received $48,023 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Brokaw will have already received $148,435 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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