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Former state school employee Shane Binetti paid in $5K to teachers' pension fund, could collect $93K in retirement

Schools

By Local Labs News Service | Mar 1, 2016

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Former state school employee Carolyn Shane Binetti, who retired in February 2016, saved $5,141 toward a pension over 1 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Shane Binetti would collect as much as $93,023, according to a projection by Local Government Information Services (LGIS), which publishes North Cook News.

The projection assumes Shane Binetti received $1,955 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Shane Binetti will have already received $6,043 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Glenview Community Consolidated School District 34

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