Lake County Gazette

Lake County Gazette

Sunday, January 26, 2020

Former state university employee Bonadore paid in $120K to pension fund, could collect $2.23M in retirement

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By Local Labs News Service | Jan 1, 2019

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Former state university employee Brian Bonadore, who retired in December 2018, saved $120,016 toward a pension over 29 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Bonadore would collect as much as $2.23 million, according to a projection by Local Government Information Services (LGIS), which publishes Lake County Gazette.

The projection assumes Bonadore received $46,932 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Bonadore will have already received $145,062 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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