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Chicago City Wire

Tuesday, January 14, 2025

Former teacher Abdallah paid in $115K to teachers' pension fund, could collect $2M in retirement

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Former teacher Katy Abdallah, who retired in August 2016, saved $114,654 toward a pension over 22 years working for public schools, Chicago Teachers' Pension Fund records show.

Over 30 years of retirement, Abdallah would collect as much as $2 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Abdallah received $42,002 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Abdallah will have already received $129,824 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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