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Chicago City Wire

Thursday, November 14, 2024

Former chief of english Garibay Mulattieri paid in $22K to teachers' pension fund, could collect $254K in retirement

Money 08

Former chief of english Karen Garibay Mulattieri, who retired in April 2016, saved $21,654 toward a pension over 2 years working for public schools, Chicago Teachers' Pension Fund records show.

Over 30 years of retirement, Garibay Mulattieri would collect as much as $254,176, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Garibay Mulattieri received $5,342 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Garibay Mulattieri will have already received $22,348 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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