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West Cook News

Monday, November 18, 2024

Former state school employee Boni paid in $108K to teachers' pension fund, could collect $1.75M in retirement

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Former state school employee Daniel Boni, who retired in July 2017, saved $107,884 toward a pension over 17 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Boni would collect as much as $1.75 million, according to a projection by Local Government Information Services (LGIS), which publishes West Cook News.

The projection assumes Boni received $36,772 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Boni will have already received $113,658 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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