Former state school employee Malas paid in $101K to teachers' pension fund, could collect $2.08M in retirement

By Local Labs News Service

Apr 1, 2018

Former state school employee Brett Malas, who retired in March 2018, saved $100,507 toward a pension over 14 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Malas would collect as much as $2.08 million, according to a projection by Local Government Information Services (LGIS), which publishes Kane County Reporter.

The projection assumes Malas received $43,800 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Malas will have already received $135,381 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Kaneland Community Unit School District 302

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