Former state school employee Cinto paid in $147K to teachers' pension fund, could collect $3.15M in retirement

By Local Labs News Service

Jun 1, 2016

Former state school employee Ronald Cinto, who retired in May 2016, saved $146,518 toward a pension over 37 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Cinto would collect as much as $3.15 million, according to a projection by Local Government Information Services (LGIS), which publishes Illinois Valley Times.

The projection assumes Cinto received $66,232 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Cinto will have already received $204,717 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Saratoga Community Consolidated School District 60c Board

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