Former state school employee Nardiello paid in $37K to teachers' pension fund, could collect $1.26M in retirement

By Local Labs News Service

Jan 1, 2019

Former state school employee Cynthia Nardiello, who retired in December 2018, saved $37,038 toward a pension over 16 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Nardiello would collect as much as $1.26 million, according to a projection by Local Government Information Services (LGIS), which publishes Rockford Sun.

The projection assumes Nardiello received $26,554 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Nardiello will have already received $53,905 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Harlem Unit School District 122

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