Former state school employee Breidenstein paid in $194K to teachers' pension fund, could collect $4M in retirement

By Rock Island Today Reports

Aug 1, 2016

Former state school employee Gerald Breidenstein, who retired in July 2016, saved $193,950 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, Breidenstein would collect as much as $4 million, according to a projection by Local Government Information Services (LGIS), which publishes Rock Island Today.

The projection assumes Breidenstein received $84,064 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Breidenstein will have already received $259,834 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Rock Island-Milan School District 41 Board

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