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West Central Reporter

Monday, November 25, 2024

Former state school employee Brackensick paid in $71K to teachers' pension fund, could collect $1.28M in retirement

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Former state school employee Deborah Brackensick, who retired in May 2017, saved $70,684 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, Brackensick would collect as much as $1.28 million, according to a projection by Local Government Information Services (LGIS), which publishes West Central Reporter.

The projection assumes Brackensick received $26,848 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Brackensick will have already received $82,984 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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