Former state school employee Pascolla paid in $185K to teachers' pension fund, could collect $4.55M in retirement

Former state school employee Carol Pascolla, who retired in June 2017, saved $184,749 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, Pascolla would collect as much as $4.55 million, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Pascolla received $95,563 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Pascolla will have already received $193,993 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.