Former state school employee Braden paid in $155K to teachers' pension fund, could collect $2.19M in retirement

By Local Labs News Service

Jul 1, 2018

Former state school employee Margaret Braden, who retired in June 2018, saved $154,985 toward a pension over 21 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Braden would collect as much as $2.19 million, according to a projection by Local Government Information Services (LGIS), which publishes Lake County Gazette.

The projection assumes Braden received $45,960 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Braden will have already received $192,280 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Waukegan Community Unit School District 60

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