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Macon Reporter

Monday, December 23, 2024

Former state school employee Bradshaw paid in $121K to teachers' pension fund, could collect $2.6M in retirement

Money 07

Former state school employee Susan Bradshaw, who retired in May 2017, saved $120,707 toward a pension over 29 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Bradshaw would collect as much as $2.6 million, according to a projection by Local Government Information Services (LGIS), which publishes Macon Reporter.

The projection assumes Bradshaw received $54,739 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Bradshaw will have already received $169,192 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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