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Chicago City Wire

Tuesday, April 16, 2024

Former school social worker Haversham paid in $174K to teachers' pension fund, could collect $3.35M in retirement

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Former school social worker Joanna Haversham, who retired in September 2016, saved $173,956 toward a pension over 28 years working for public schools, Chicago Teachers' Pension Fund records show.

Over 30 years of retirement, Haversham would collect as much as $3.35 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Haversham received $70,483 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Haversham will have already received $217,855 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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