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Monday, November 25, 2024

Mahomet Seymour CUSD 3 Gruner paid in $75K to teachers pension fund, could collect $1.8 million in retirement

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Retired Mahomet Seymour CUSD 3 employee Angelina Gruner saved $75,371 toward her pension over 23 years working for public schools, Illinois Teachers' Retirement Fund (TRS) records show.

Over 40 years of retirement, Gruner would collect as much as $1.823 million, according to a projection by Local Government Information Services (LGIS), which publishes Chambana Sun.

Gruner, 55, who currently lives in Mahomet earned $68,487 in her final year at Mahomet Seymour CUSD 3.

The projection assumes Gruner will receive 33.5 percent of that total - $22,938 - in her first year of retirement, then 3 percent annual increases thereafter, compounded.

After three years of retirement, Gruner will have already received $70,898 in retirement benefits, or more than the sum total of her contributions to the state teachers' pension fund.

According to the Illinois State Board of Education (ISBE), 52 percent of Mahomet Seymour CUSD 3 students met or exceeded the standards for the "PARCC" exams. ISBE reported that 70.4 percent of district's graduates were deemed "college ready" last year.

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