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Chicago City Wire

Monday, November 25, 2024

Former state school employee Qatanani paid in $121K to teachers' pension fund, could collect $2.23M in retirement

Money 02

Former state school employee Willamena Qatanani, who retired in April 2016, saved $120,529 toward a pension over 25 years working for public schools, Chicago Teachers' Pension Fund records show.

Over 30 years of retirement, Qatanani 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 Qatanani received $46,901 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Qatanani will have already received $144,966 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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