Former state school employee Blackmon paid in $73K to teachers' pension fund, could collect $2.05M in retirement

By Local Labs News Service

Nov 1, 2016

Former state school employee Delores Blackmon, who retired in October 2016, saved $72,728 toward a pension over 27 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Blackmon would collect as much as $2.05 million, according to a projection by Local Government Information Services (LGIS), which publishes Metro East Sun.

The projection assumes Blackmon received $42,990 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Blackmon will have already received $87,270 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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