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Former state school employee Cepeda paid in $183K to teachers' pension fund, could collect $3.81M in retirement

Schools

By Local Labs News Service | Aug 1, 2018


Former state school employee Patricia Cepeda, who retired in July 2018, saved $182,729 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, Cepeda would collect as much as $3.81 million, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Cepeda received $80,124 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Cepeda will have already received $247,656 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Downers Grove Grade School District 58

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