Lake County Gazette

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Former state school employee Buscemi paid in $24K to teachers' pension fund, could collect $721K in retirement

Schools

By Local Labs News Service | Aug 1, 2018

Money 03

Former state school employee Gail Buscemi, who retired in July 2018, saved $23,628 toward a pension over 4 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Buscemi would collect as much as $720,522, according to a projection by Local Government Information Services (LGIS), which publishes Lake County Gazette.

The projection assumes Buscemi received $15,144 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Buscemi will have already received $30,742 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Warren Township High School District 121

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