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South Cook News

Friday, April 19, 2024

Former state school employee Buoscio paid in $38K to teachers' pension fund, could collect $528K in retirement

Money 07

Former state school employee Laura Buoscio, who retired in June 2018, saved $38,190 toward a pension over 10 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Buoscio would collect as much as $528,007, according to a projection by Local Government Information Services (LGIS), which publishes South Cook News.

The projection assumes Buoscio received $11,098 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Buoscio will have already received $46,430 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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