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West Cook News

Monday, November 25, 2024

Former state school employee Cavalieri paid in $34K to teachers' pension fund, could collect $504K in retirement

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Former state school employee Donna Cavalieri, who retired in July 2016, saved $33,900 toward a pension over 9 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Cavalieri would collect as much as $504,371, according to a projection by Local Government Information Services (LGIS), which publishes West Cook News.

The projection assumes Cavalieri received $10,601 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Cavalieri will have already received $44,351 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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