Quantcast

Chicago City Wire

Sunday, September 29, 2024

Former teacher Nash paid in $73K to teachers' pension fund, could collect $1.31M in retirement

Shutterstock 469426916

Former teacher Jesse Nash, who retired in December 2016, saved $72,867 toward a pension over 15 years working for public schools, Chicago Teachers' Pension Fund records show.

Over 30 years of retirement, Nash would collect as much as $1.31 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Nash received $27,466 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Nash will have already received $84,895 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

MORE NEWS