Chicago City Wire

Chicago City Wire

Friday, November 15, 2019

Former school social worker Morin paid in $109K to teachers' pension fund, could collect $1.28M in retirement

Schools

By Local Labs News Service | May 1, 2018

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Former school social worker Patricia Morin, who retired in April 2018, saved $108,819 toward a pension over 21 years working for public schools, Chicago Teachers' Pension Fund records show.

Over 30 years of retirement, Morin would collect as much as $1.28 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Morin received $26,939 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Morin will have already received $112,701 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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