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Chicago City Wire

Tuesday, December 24, 2024

Former school psychologist Hardy paid in $142K to teachers' pension fund, could collect $3.15M in retirement

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Former school psychologist Linda Hardy, who retired in August 2016, saved $141,790 toward a pension over 31 years working for public schools, Chicago Teachers' Pension Fund records show.

Over 30 years of retirement, Hardy would collect as much as $3.15 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Hardy received $66,269 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Hardy will have already received $204,831 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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