Quantcast

McHenry Times

Monday, November 25, 2024

Former state school employee Blinstrup paid in $62K to teachers' pension fund, could collect $917K in retirement

Shutterstock 381111379

Former state school employee Eleanor Blinstrup, who retired in May 2016, saved $62,004 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, Blinstrup would collect as much as $917,118, according to a projection by Local Government Information Services (LGIS), which publishes McHenry Times.

The projection assumes Blinstrup received $19,277 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Blinstrup will have already received $80,648 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

MORE NEWS