Quantcast

South Cook News

Wednesday, November 27, 2024

Former state school employee Cosby paid in $61K to teachers' pension fund, could collect $932K in retirement

Money 07

Former state school employee Bonita Cosby, who retired in February 2018, saved $61,472 toward a pension over 8 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Cosby would collect as much as $932,179, according to a projection by Local Government Information Services (LGIS), which publishes South Cook News.

The projection assumes Cosby received $19,593 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Cosby will have already received $81,970 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' 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