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Chicago City Wire

Wednesday, May 8, 2024

Former teacher Hunt paid in $159K to teachers' pension fund, could collect $3.33M in retirement

Money 08

Former teacher Linda Hunt, who retired in October 2016, saved $159,389 toward a pension over 35 years working for public schools, Chicago Teachers' Pension Fund records show.

Over 30 years of retirement, Hunt would collect as much as $3.33 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Hunt received $69,943 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Hunt will have already received $216,186 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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