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South Central Reporter

Saturday, November 23, 2024

Former state school employee Bohlen paid in $80K to teachers' pension fund, could collect $1.58M in retirement

Money 02

Former state school employee Rebecca Bohlen, who retired in May 2017, saved $79,670 toward a pension over 30 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Bohlen would collect as much as $1.58 million, according to a projection by Local Government Information Services (LGIS), which publishes South Central Reporter.

The projection assumes Bohlen received $33,176 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Bohlen will have already received $102,543 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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