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Chicago City Wire

Wednesday, April 24, 2024

Former special education worker D'Addio paid in $156K to teachers' pension fund, could collect $3.19M in retirement

Money 06

Former special education worker Joann D'Addio, who retired in July 2017, saved $156,451 toward a pension over 34 years working for public schools, Chicago Teachers' Pension Fund records show.

Over 30 years of retirement, D'Addio would collect as much as $3.19 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes D'Addio received $66,989 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, D'Addio will have already received $207,057 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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