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Chicago City Wire

Wednesday, April 24, 2024

Former principal Heard Murry paid in $236K to teachers' pension fund, could collect $4.77M in retirement

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Former principal Richadine Heard Murry, who retired in May 2017, saved $235,627 toward a pension over 32 years working for public schools, Chicago Teachers' Pension Fund records show.

Over 30 years of retirement, Heard Murry would collect as much as $4.77 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Heard Murry received $100,216 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Heard Murry will have already received $309,757 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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