Former state school employee Del Giudice paid in $245K to teachers' pension fund, could collect $5.14M in retirement

Former state school employee Carmen Del Giudice, who retired in June 2017, saved $245,149 toward a pension over 38 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Del Giudice would collect as much as $5.14 million, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Del Giudice received $108,133 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Del Giudice will have already received $334,228 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.