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South Cook News

Thursday, December 26, 2024

Former state school employee Cesaro paid in $156K to teachers' pension fund, could collect $4.1M in retirement

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Former state school employee Rosanne Cesaro, who retired in July 2016, saved $155,652 toward a pension over 39 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Cesaro would collect as much as $4.1 million, according to a projection by Local Government Information Services (LGIS), which publishes South Cook News.

The projection assumes Cesaro received $86,246 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Cesaro will have already received $175,079 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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