Former state school employee Mamolella paid in $171K to teachers' pension fund, could collect $4.62M in retirement

By West Cook News

Aug 1, 2016

Former state school employee Mary Mamolella, who retired in July 2016, saved $171,063 toward a pension over 35 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Mamolella would collect as much as $4.62 million, according to a projection by Local Government Information Services (LGIS), which publishes West Cook News.

The projection assumes Mamolella received $97,113 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Mamolella will have already received $197,139 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Westchester School District 92-5 Board

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