Former state school employee Mark Bocian, who retired in July 2017, saved $223,372 toward a pension over 36 years working for public schools, Teachers’ Retirement System of the State of Illinois records show.
Over 30 years of retirement, Bocian would collect as much as $4.27 million, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.
The projection assumes Bocian received $89,835 in the first year of retirement, then 3 percent annual increases thereafter, compounded.
After 3 years of retirement, Bocian will have already received $277,671 in retirement benefits, or more than the sum total of the retiree’s contributions to the teachers’ pension fund.
