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Carbondale Reporter

Friday, April 26, 2024

Former state school employee Camarato paid in $125K to teachers' pension fund, could collect $2.51M in retirement

Money272

Former state school employee Pamela Camarato, who retired in May 2017, saved $125,249 toward a pension over 27 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Camarato would collect as much as $2.51 million, according to a projection by Local Government Information Services (LGIS), which publishes Carbondale Reporter.

The projection assumes Camarato received $52,790 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Camarato will have already received $163,169 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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