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West Cook News

Thursday, April 25, 2024

Former state school employee Rigitano paid in $117K to teachers' pension fund, could collect $2.08M in retirement

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Former state school employee Liane Rigitano, who retired in June 2018, saved $117,354 toward a pension over 24 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Rigitano would collect as much as $2.08 million, according to a projection by Local Government Information Services (LGIS), which publishes West Cook News.

The projection assumes Rigitano received $43,758 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Rigitano will have already received $135,252 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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