Quantcast

North Cook News

Friday, June 20, 2025

Former state school employee Bruno paid in $8K to teachers' pension fund, could collect $494K in retirement

Money 05

Former state school employee Laura Bruno, who retired in July 2017, saved $8,085 toward a pension over 6 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Bruno would collect as much as $493,747, according to a projection by Local Government Information Services (LGIS), which publishes North Cook News.

The projection assumes Bruno received $10,378 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 1 years of retirement, Bruno will have already received $10,378 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

MORE NEWS