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Chicago City Wire

Friday, December 27, 2024

Former assistant principal Zanona paid in $84K to teachers' pension fund, could collect $1.55M in retirement

Money 07

Former assistant principal Kelly Zanona, who retired in March 2016, saved $84,152 toward a pension over 18 years working for public schools, Chicago Teachers' Pension Fund records show.

Over 30 years of retirement, Zanona would collect as much as $1.55 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Zanona received $32,624 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Zanona will have already received $100,838 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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