Former state school employee Ragona paid in $3K to teachers' pension fund, could collect $125K in retirement

By Local Labs News Service

Jul 1, 2016

Former state school employee Martin Ragona, who retired in June 2016, saved $2,962 toward a pension over 1 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Ragona would collect as much as $125,136, according to a projection by Local Government Information Services (LGIS), which publishes North Cook News.

The projection assumes Ragona received $2,630 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Ragona will have already received $5,339 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Evanston Township High School District 202

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