Quantcast

McHenry Times

Monday, November 25, 2024

Former state school employee Bombino paid in $47K to teachers' pension fund, could collect $748K in retirement

Shutterstock 65427295

Former state school employee Aliziris Bombino, who retired in March 2016, saved $47,212 toward a pension over 12 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Bombino would collect as much as $748,393, according to a projection by Local Government Information Services (LGIS), which publishes McHenry Times.

The projection assumes Bombino received $15,730 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Bombino will have already received $48,620 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

MORE NEWS