Former state school employee Decaprio paid in $112K to teachers' pension fund, could collect $2.71M in retirement

By Local Labs News Service

Jun 1, 2016

Former state school employee Carol Decaprio, who retired in May 2016, saved $112,179 toward a pension over 34 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Decaprio would collect as much as $2.71 million, according to a projection by Local Government Information Services (LGIS), which publishes Will County Gazette.

The projection assumes Decaprio received $56,912 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Decaprio will have already received $115,531 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

ORGANIZATIONS IN THIS STORY

Manhattan School District 114

!RECEIVE ALERTS

The next time we write about any of these orgs, we’ll email you a link to the story. You may edit your settings or unsubscribe at any time.

Sign-up

DONATE

Help support the Metric Media Foundation's mission to restore community based news.

Donate