Former state school employee Runbom paid in $106K to teachers' pension fund, could collect $2.49M in retirement

By Rock Island Today Reports

Jun 1, 2016

Former state school employee Dennis Runbom, who retired in May 2016, saved $106,441 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, Runbom would collect as much as $2.49 million, according to a projection by Local Government Information Services (LGIS), which publishes Rock Island Today.

The projection assumes Runbom received $52,296 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Runbom will have already received $161,642 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Mercer County School District 404 Board

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