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Kankakee Times

Monday, May 20, 2024

Former state school employee Cademartori paid in $110K to teachers' pension fund, could collect $2.48M in retirement

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Former state school employee Diane Cademartori, who retired in June 2016, saved $110,470 toward a pension over 32 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Cademartori would collect as much as $2.48 million, according to a projection by Local Government Information Services (LGIS), which publishes Kankakee Times.

The projection assumes Cademartori received $52,157 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Cademartori will have already received $161,213 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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