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West Cook News

Friday, April 19, 2024

Cicero SD 99 Tobolski paid in $50K to teachers pension fund, could collect $900K in retirement

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Retired Cicero SD 99 employee Paul Tobolski saved $50,424 toward his pension over 10 years working for public schools, Illinois Teachers' Retirement Fund (TRS) records show.

Over 35 years of retirement, Tobolski would collect as much as $920,000, according to a projection by Local Government Information Services (LGIS), which publishes West Cook News.

Tobolski, 60, who currently lives in Chicago's 13th Ward, earned $59,950 in his final year at Cicero SD 99.

The projection assumes Tobolski will receive 23.8 percent of that total - $14,253 - in his first year of retirement, then 3 percent annual increases thereafter, compounded.

After three years of retirement, Tobolski will have already received $44,054 in retirement benefits, or more than the sum total of his contributions to the state teachers' pension fund.

According to the Illinois State Board of Education (ISBE), 15.2 percent of Cicero SD 99 students met or exceeded the standards for the "PARCC" exams.

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