Quantcast

Rockford Sun

Friday, December 27, 2024

Former state school employee Gonet paid in $197K to teachers' pension fund, could collect $4.17M in retirement

Money 05

Former state school employee David Gonet, who retired in June 2017, saved $197,453 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, Gonet would collect as much as $4.17 million, according to a projection by Local Government Information Services (LGIS), which publishes Rockford Sun.

The projection assumes Gonet received $87,639 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Gonet will have already received $270,883 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

!RECEIVE ALERTS

The next time we write about any of these orgs, we’ll email you a link to the story. You may edit your settings or unsubscribe at any time.
Sign-up

DONATE

Help support the Metric Media Foundation's mission to restore community based news.
Donate

MORE NEWS