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Former state school employee Coglianese paid in $276K to teachers' pension fund, could collect $6.21M in retirement

Schools

By Local Labs News Service | Jul 1, 2017

Money 07

Former state school employee Anthony Coglianese, who retired in June 2017, saved $275,610 toward a pension over 39 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Coglianese would collect as much as $6.21 million, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Coglianese received $130,624 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Coglianese will have already received $403,746 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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