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Former state school employee Bianchin paid in $116K to teachers' pension fund, could collect $2.1M in retirement

Schools

By Local Labs News Service | Jul 1, 2017

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Former state school employee Julie Bianchin, who retired in June 2017, saved $116,355 toward a pension over 20 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Bianchin would collect as much as $2.1 million, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Bianchin received $44,200 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Bianchin will have already received $136,618 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Downers Grove Grade School District 58

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