Former state school employee Buoscio paid in $126K to teachers' pension fund, could collect $3.01M in retirement

By Local Labs News Service

Jul 1, 2018

Former state school employee Ronald Buoscio, who retired in June 2018, saved $125,934 toward a pension over 28 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Buoscio would collect as much as $3.01 million, according to a projection by Local Government Information Services (LGIS), which publishes Will County Gazette.

The projection assumes Buoscio received $63,317 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Buoscio will have already received $128,534 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Summit Hill school District 161

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