Former state school employee Cazzato paid in $259K to teachers' pension fund, could collect $4.38M in retirement

Former state school employee Keri Cazzato, who retired in June 2017, saved $259,358 toward a pension over 35 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Cazzato would collect as much as $4.38 million, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Cazzato received $92,076 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Cazzato will have already received $284,597 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.