Former state school employee Papa paid in $160K to teachers' pension fund, could collect $2.53M in retirement

By Local Labs News Service

Jul 1, 2018

Former state school employee Kristine Papa, who retired in June 2018, saved $159,514 toward a pension over 21 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Papa would collect as much as $2.53 million, according to a projection by Local Government Information Services (LGIS), which publishes Will County Gazette.

The projection assumes Papa received $53,252 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Papa will have already received $164,598 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Joliet Township High School District 204

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