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Chicago City Wire

Friday, April 19, 2024

Former teacher and speech pathologist Hester paid in $206K to teachers' pension fund, could collect $3.32M in retirement

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Former teacher and speech pathologist Nancy Hester, who retired in December 2017, saved $206,175 toward a pension over 39 years working for public schools, Chicago Teachers' Pension Fund records show.

Over 30 years of retirement, Hester would collect as much as $3.32 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Hester received $69,824 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Hester will have already received $215,820 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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