Former teacher Folan paid in $100K to teachers' pension fund, could collect $1.99M in retirement

By Local Labs News Service

Mar 1, 2016

Former teacher Terri Folan, who retired in February 2016, saved $99,761 toward a pension over 25 years working for public schools, Chicago Teachers' Pension Fund records show.

Over 30 years of retirement, Folan would collect as much as $1.99 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Folan received $41,764 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Folan will have already received $129,089 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Chicago Public Schools

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