Quantcast

South Cook News

Friday, May 3, 2024

Former state school employee Viverito paid in $214K to teachers' pension fund, could collect $4.49M in retirement

Shutterstock 233512279

Former state school employee Valerie Viverito, who retired in August 2016, saved $214,346 toward a pension over 35 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Viverito would collect as much as $4.49 million, according to a projection by Local Government Information Services (LGIS), which publishes South Cook News.

The projection assumes Viverito received $94,308 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Viverito will have already received $291,496 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

ORGANIZATIONS IN THIS STORY

!RECEIVE ALERTS

The next time we write about any of these orgs, we’ll email you a link to the story. You may edit your settings or unsubscribe at any time.
Sign-up

DONATE

Help support the Metric Media Foundation's mission to restore community based news.
Donate

MORE NEWS