Chicago City Wire

Chicago City Wire

Saturday, January 25, 2020

Former interim principal Bibbie paid in $198K to teachers' pension fund, could collect $4.38M in retirement

Schools

By Local Labs News Service | Mar 1, 2019

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Former interim principal Sherron Bibbie, who retired in February 2019, saved $197,688 toward a pension over 34 years working for public schools, Chicago Teachers' Pension Fund records show.

Over 30 years of retirement, Bibbie would collect as much as $4.38 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Bibbie received $92,059 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Bibbie will have already received $284,546 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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