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Chicago City Wire

Friday, April 26, 2024

Former school counselor McCann paid in $114K to teachers' pension fund, could collect $1.91M in retirement

Money 06

Former school counselor Adrienne McCann, who retired in March 2016, saved $114,386 toward a pension over 20 years working for public schools, Chicago Teachers' Pension Fund records show.

Over 30 years of retirement, McCann would collect as much as $1.91 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes McCann received $40,140 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, McCann will have already received $124,068 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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