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North Cook News

Saturday, November 23, 2024

Former state school employee Breitzman paid in $167K to teachers' pension fund, could collect $3.68M in retirement

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Former state school employee Jorgia Breitzman, who retired in June 2018, saved $167,448 toward a pension over 27 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Breitzman would collect as much as $3.68 million, according to a projection by Local Government Information Services (LGIS), which publishes North Cook News.

The projection assumes Breitzman received $77,407 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Breitzman will have already received $239,257 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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