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South Central Reporter

Saturday, November 23, 2024

Former state school employee Bryant paid in $136K to teachers' pension fund, could collect $2.95M in retirement

Money 04

Former state school employee Lou Bryant, who retired in June 2016, saved $136,293 toward a pension over 31 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 $2.95 million, according to a projection by Local Government Information Services (LGIS), which publishes South Central Reporter.

The projection assumes Bryant received $62,055 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Bryant will have already received $191,807 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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