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Will County Gazette

Friday, April 19, 2024

Former state school employee Sinadinos paid in $62K to teachers' pension fund, could collect $891K in retirement

Money759

Former state school employee Doreen Sinadinos, who retired in January 2017, saved $62,288 toward a pension over 20 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Sinadinos would collect as much as $890,914, according to a projection by Local Government Information Services (LGIS), which publishes Will County Gazette.

The projection assumes Sinadinos received $18,726 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Sinadinos will have already received $78,344 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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