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Rockford Sun

Tuesday, December 24, 2024

Former state school employee Saporiti paid in $158K to teachers' pension fund, could collect $2.5M in retirement

Money 02

Former state school employee Tina Saporiti, who retired in May 2017, saved $158,403 toward a pension over 23 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Saporiti would collect as much as $2.5 million, according to a projection by Local Government Information Services (LGIS), which publishes Rockford Sun.

The projection assumes Saporiti received $52,447 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Saporiti will have already received $162,108 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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