Quantcast

Will County Gazette

Saturday, November 23, 2024

Former state school employee Defilippis paid in $119K to teachers' pension fund, could collect $2.84M in retirement

Shutterstock 369740408

Former state school employee Karen Defilippis, who retired in June 2016, saved $119,313 toward a pension over 27 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Defilippis would collect as much as $2.84 million, according to a projection by Local Government Information Services (LGIS), which publishes Will County Gazette.

The projection assumes Defilippis received $59,754 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Defilippis will have already received $121,301 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

!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

MORE NEWS