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Chicago City Wire

Monday, November 25, 2024

Former school social worker Killingsworth paid in $181K to teachers' pension fund, could collect $3.36M in retirement

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Former school social worker Janice Killingsworth, who retired in April 2016, saved $180,595 toward a pension over 35 years working for public schools, Chicago Teachers' Pension Fund records show.

Over 30 years of retirement, Killingsworth would collect as much as $3.36 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Killingsworth received $70,723 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Killingsworth will have already received $218,598 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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