Quantcast

West Cook News

Monday, May 20, 2024

Former state school employee Lombardi paid in $207K to teachers' pension fund, could collect $6.96M in retirement

Shutterstock 249974521

Former state school employee Rosetta Lombardi, who retired in June 2016, saved $206,904 toward a pension over 52 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Lombardi would collect as much as $6.96 million, according to a projection by Local Government Information Services (LGIS), which publishes West Cook News.

The projection assumes Lombardi received $146,205 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Lombardi will have already received $296,796 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