Dupage Policy Journal

Dupage Policy Journal

Friday, January 17, 2020

Former state school employee Sgro paid in $169K to teachers' pension fund, could collect $4.1M in retirement


By Local Labs News Service | Jan 1, 2018

Shutterstock 469426916

Former state school employee Marc Sgro, who retired in December 2017, saved $168,973 toward a pension over 27 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Sgro would collect as much as $4.1 million, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Sgro received $86,240 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Sgro will have already received $175,067 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

Want to get notified whenever we write about Villa Park School District 45 ?

Sign-up Next time we write about Villa Park School District 45, we'll email you a link to the story. You may edit your settings or unsubscribe at any time.

Organizations in this Story

Villa Park School District 45

More News