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Will County Gazette

Monday, November 25, 2024

Former state school employee Brim paid in $239K to teachers' pension fund, could collect $5.12M in retirement

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Former state school employee Thomas Brim, who retired in June 2018, saved $239,411 toward a pension over 28 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Brim would collect as much as $5.12 million, according to a projection by Local Government Information Services (LGIS), which publishes Will County Gazette.

The projection assumes Brim received $107,653 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Brim will have already received $332,745 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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