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Former state school employee Scarano paid in $8K to teachers' pension fund, could collect $233K in retirement

Schools

By Local Labs News Service | Jul 1, 2017

Money 06

Former state school employee Deborah Scarano, who retired in June 2017, saved $7,743 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, Scarano would collect as much as $233,174, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Scarano received $4,901 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Scarano will have already received $9,949 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Hinsdale Township High School District 86

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