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Will County Gazette

Thursday, April 25, 2024

Here are the 2 former employees of Reed Township receiving the highest annual pension payouts

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Here are the 2 former employees of Reed Township receiving the highest annual pension payouts, according to 2015 Illinois Municipal Retirement Fund (IMRF) records:

Name
Total saved over career
Projected Total Collections
Year Retired
Years Retired
Total Collected (Retirement through 2016)
2016 Pension
Original Benefit
Bibly, Richard F.
$49,373
$1,501,559
2015
1
$46,170
$23,370
$22,800
Favero, Raymond L.
$2,113
$256,899
2001
15
$80,623
$5,968
$4,137

Projected total collections assume 36 years of retirement.

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