Quantcast

South Cook News

Sunday, April 6, 2025

Former state university employee Engblom paid in $5K to pension fund, could collect $133K in retirement

Money759

Former state university employee Thomas Engblom, who retired in April 2016, saved $5,204 toward a pension over 10 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Engblom would collect as much as $132,963, according to a projection by Local Government Information Services (LGIS), which publishes South Cook News.

The projection assumes Engblom received $2,794 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Engblom will have already received $5,672 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

ORGANIZATIONS IN THIS STORY

!RECEIVE ALERTS

The next time we write about any of these orgs, we’ll email you a link to the story. You may edit your settings or unsubscribe at any time.
Sign-up

DONATE

Help support the Metric Media Foundation's mission to restore community based news.
Donate

MORE NEWS