Will County Gazette

Will County Gazette

Monday, October 14, 2019

Former state school employee Ardolino paid in $75K to teachers' pension fund, could collect $1.2M in retirement

Schools

By Local Labs News Service | Jun 1, 2016


Former state school employee Susan Ardolino, who retired in May 2016, saved $74,799 toward a pension over 17 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Ardolino would collect as much as $1.2 million, according to a projection by Local Government Information Services (LGIS), which publishes Will County Gazette.

The projection assumes Ardolino received $25,134 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Ardolino will have already received $77,687 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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