Quantcast

Galesburg Reporter

Monday, November 25, 2024

Former state school employee Blakewell paid in $52K to teachers' pension fund, could collect $891K in retirement

Shutterstock 381111379

Former state school employee Marna Blakewell, who retired in December 2018, saved $52,259 toward a pension over 19 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Blakewell would collect as much as $891,085, according to a projection by Local Government Information Services (LGIS), which publishes Galesburg Reporter.

The projection assumes Blakewell received $18,729 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Blakewell will have already received $57,890 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

ORGANIZATIONS IN THIS STORY

!RECEIVE ALERTS

The next time we write about any of these orgs, we’ll email you a link to the story. You may edit your settings or unsubscribe at any time.
Sign-up

DONATE

Help support the Metric Media Foundation's mission to restore community based news.
Donate

MORE NEWS