Dupage Policy Journal

Dupage Policy Journal

Tuesday, November 12, 2019

Former state school employee Blum paid in $157K to teachers' pension fund, could collect $3.78M in retirement


By Local Labs News Service | Jul 1, 2018

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Former state school employee Monica Blum, who retired in June 2018, saved $157,134 toward a pension over 28 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Blum would collect as much as $3.78 million, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Blum received $79,457 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Blum will have already received $161,298 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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