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Chambana Sun

Monday, November 25, 2024

Former state school employee Levanti paid in $169K to teachers' pension fund, could collect $3.22M in retirement

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Former state school employee Dorothy Levanti, who retired in June 2016, saved $168,947 toward a pension over 33 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Levanti would collect as much as $3.22 million, according to a projection by Local Government Information Services (LGIS), which publishes Chambana Sun.

The projection assumes Levanti received $67,605 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Levanti will have already received $208,960 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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