Former state school employee Knutson paid in $166K to teachers' pension fund, could collect $3.4M in retirement

By Local Labs News Service

Aug 1, 2016

Former state school employee Brian Knutson, who retired in July 2016, saved $166,033 toward a pension over 34 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Knutson would collect as much as $3.4 million, according to a projection by Local Government Information Services (LGIS), which publishes McLean County Times.

The projection assumes Knutson received $71,531 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Knutson will have already received $221,095 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Tri Valley Community Unit School District 3

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