Former state school employee Brandt paid in $39K to teachers' pension fund, could collect $723K in retirement

By Rock Island Today Reports

Jul 1, 2016

Former state school employee Barbara Brandt, who retired in June 2016, saved $39,013 toward a pension over 15 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Brandt would collect as much as $723,074, according to a projection by Local Government Information Services (LGIS), which publishes Rock Island Today.

The projection assumes Brandt received $15,198 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Brandt will have already received $46,976 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Carbon Cliff-Barstow School District 36 Board

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