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Chicago City Wire

Wednesday, April 24, 2024

Former special education worker Sirchio paid in $148K to teachers' pension fund, could collect $2.71M in retirement

Money 06

Former special education worker Patricia Sirchio, who retired in August 2016, saved $147,711 toward a pension over 28 years working for public schools, Chicago Teachers' Pension Fund records show.

Over 30 years of retirement, Sirchio would collect as much as $2.71 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Sirchio received $56,897 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Sirchio will have already received $175,863 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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