Chicago City Wire

Chicago City Wire

Wednesday, November 20, 2019

Former special education worker Dunn paid in $134K to teachers' pension fund, could collect $2.18M in retirement

Schools

By Local Labs News Service | Aug 1, 2017

Money 08

Former special education worker Madeline Dunn, who retired in July 2017, saved $133,752 toward a pension over 23 years working for public schools, Chicago Teachers' Pension Fund records show.

Over 30 years of retirement, Dunn would collect as much as $2.18 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Dunn received $45,920 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Dunn will have already received $141,935 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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