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Dupage Policy Journal

Saturday, November 23, 2024

Former state school employee Salotti paid in $12K to teachers' pension fund, could collect $172K in retirement

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Former state school employee Laurie Salotti, who retired in July 2016, saved $11,806 toward a pension over 2 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Salotti would collect as much as $171,905, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Salotti received $3,613 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Salotti will have already received $15,115 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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