Former state school employee Brokaw paid in $49K to teachers' pension fund, could collect $769K in retirement

By Local Labs News Service

Jun 1, 2016

Former state school employee Steve Brokaw, who retired in May 2016, saved $48,577 toward a pension over 15 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Brokaw would collect as much as $768,957, according to a projection by Local Government Information Services (LGIS), which publishes SE Illinois News.

The projection assumes Brokaw received $16,162 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Brokaw will have already received $49,955 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Edwards County Community Unit School District 1

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