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Chicago City Wire

Monday, December 23, 2024

Former teacher Oliveri paid in $133K to teachers' pension fund, could collect $2.88M in retirement

Money759

Former teacher Sonja Oliveri, who retired in August 2016, saved $133,468 toward a pension over 30 years working for public schools, Chicago Teachers' Pension Fund records show.

Over 30 years of retirement, Oliveri would collect as much as $2.88 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Oliveri received $60,447 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Oliveri will have already received $186,835 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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