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Sangamon Sun

Saturday, May 24, 2025

Former state school employee Cardosi paid in $114K to teachers' pension fund, could collect $2.15M in retirement

Money 06

Former state school employee Jill Cardosi, who retired in May 2018, saved $113,651 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, Cardosi would collect as much as $2.15 million, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Cardosi received $45,214 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Cardosi will have already received $139,751 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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