Former state school employee Pidde Serpico paid in $147K to teachers' pension fund, could collect $3.14M in retirement

Former state school employee Donna Pidde Serpico, who retired in June 2017, saved $146,644 toward a pension over 28 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Pidde Serpico would collect as much as $3.14 million, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Pidde Serpico received $65,998 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Pidde Serpico will have already received $203,993 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.