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North Cook News

Sunday, July 27, 2025

Former state school employee Damato paid in $7K to teachers' pension fund, could collect $126K in retirement

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Former state school employee Joanne Damato, who retired in June 2016, saved $7,462 toward a pension over 5 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Damato would collect as much as $125,941, according to a projection by Local Government Information Services (LGIS), which publishes North Cook News.

The projection assumes Damato received $2,647 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Damato will have already received $8,181 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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