Former state school employee Torricelli paid in $65K to teachers' pension fund, could collect $1.16M in retirement

By Local Labs News Service

Feb 1, 2017

Former state school employee Gina Torricelli, who retired in January 2017, saved $65,004 toward a pension over 26 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Torricelli would collect as much as $1.16 million, according to a projection by Local Government Information Services (LGIS), which publishes Chambana Sun.

The projection assumes Torricelli received $24,336 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Torricelli will have already received $75,220 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Urbana School District 116 Board

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