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North Cook News

Monday, November 17, 2025

Former state university employee Tuminaro paid in $37K to pension fund, could collect $525K in retirement

Money 06

Former state university employee Vincent Tuminaro, who retired in March 2018, saved $36,879 toward a pension over 9 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Tuminaro would collect as much as $524,964, according to a projection by Local Government Information Services (LGIS), which publishes North Cook News.

The projection assumes Tuminaro received $11,034 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Tuminaro will have already received $46,162 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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