Sangamon Sun

Sangamon Sun

Friday, April 3, 2020

Former state school employee Lenstra paid in $4K to teachers' pension fund, could collect $106K in retirement

Schools

By Local Labs News Service | Dec 1, 2018

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Former state school employee Karen Lenstra, who retired in November 2018, saved $4,138 toward a pension over 2 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Lenstra would collect as much as $105,526, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Lenstra received $2,218 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Lenstra will have already received $4,503 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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