Quantcast

DeKalb Times

Friday, March 14, 2025

Former state school employee Polera paid in $158K to teachers' pension fund, could collect $3.39M in retirement

Money041

Former state school employee Joseph Polera, who retired in May 2016, saved $157,633 toward a pension over 39 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Polera would collect as much as $3.39 million, according to a projection by Local Government Information Services (LGIS), which publishes DeKalb Times.

The projection assumes Polera received $71,352 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Polera will have already received $220,543 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

MORE NEWS