Chicago City Wire

Chicago City Wire

Wednesday, January 29, 2020

Former school nurse Gonsalves paid in $132K to teachers' pension fund, could collect $2.23M in retirement


By Local Labs News Service | Aug 1, 2017


Former school nurse Maureen Gonsalves, who retired in July 2017, saved $132,019 toward a pension over 24 years working for public schools, Chicago Teachers' Pension Fund records show.

Over 30 years of retirement, Gonsalves would collect as much as $2.23 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Gonsalves received $46,788 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Gonsalves will have already received $144,618 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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