North Cook News

North Cook News

Saturday, January 18, 2020

Former state school employee Guzman paid in $222K to teachers' pension fund, could collect $5.02M in retirement


By Local Labs News Service | Jul 1, 2016

Money 06

Former state school employee Rommel Guzman, who retired in June 2016, saved $222,482 toward a pension over 35 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Guzman would collect as much as $5.02 million, according to a projection by Local Government Information Services (LGIS), which publishes North Cook News.

The projection assumes Guzman received $105,618 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Guzman will have already received $326,456 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

Want to get notified whenever we write about Northfield Township High School District 225 ?

Sign-up Next time we write about Northfield Township High School District 225, we'll email you a link to the story. You may edit your settings or unsubscribe at any time.

Organizations in this Story

Northfield Township High School District 225

More News