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Chicago City Wire

Monday, November 25, 2024

Former substitute teacher Hurd paid in $15K to teachers' pension fund, could collect $204K in retirement

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Former substitute teacher Kathryn Hurd, who retired in February 2017, saved $15,455 toward a pension over 10 years working for public schools, Chicago Teachers' Pension Fund records show.

Over 30 years of retirement, Hurd would collect as much as $204,458, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Hurd received $4,297 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Hurd will have already received $17,978 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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