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Sangamon Sun

Friday, April 26, 2024

Former state school employee Nardi paid in $205K to teachers' pension fund, could collect $4.2M in retirement

Money 01

Former state school employee Tamara Nardi, who retired in June 2018, saved $205,046 toward a pension over 36 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Nardi would collect as much as $4.2 million, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Nardi received $88,285 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Nardi will have already received $272,881 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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