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Rockford Sun

Thursday, November 28, 2024

Former state school employee Bryant paid in $48K to teachers' pension fund, could collect $972K in retirement

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Former state school employee James Bryant, who retired in April 2018, saved $47,513 toward a pension over 11 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Bryant would collect as much as $972,205, according to a projection by Local Government Information Services (LGIS), which publishes Rockford Sun.

The projection assumes Bryant received $20,435 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Bryant will have already received $63,162 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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