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Kankakee Times

Wednesday, November 27, 2024

Former state school employee Capriotti paid in $91K to teachers' pension fund, could collect $1.52M in retirement

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Former state school employee Jeanne Capriotti, who retired in May 2017, saved $90,903 toward a pension over 20 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Capriotti would collect as much as $1.52 million, according to a projection by Local Government Information Services (LGIS), which publishes Kankakee Times.

The projection assumes Capriotti received $31,907 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Capriotti will have already received $98,621 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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