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Chicago City Wire

Monday, July 14, 2025

Former school counselor King paid in $137K to teachers' pension fund, could collect $2.89M in retirement

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Former school counselor Leola King, who retired in August 2016, saved $137,112 toward a pension over 32 years working for public schools, Chicago Teachers' Pension Fund records show.

Over 30 years of retirement, King would collect as much as $2.89 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes King received $60,703 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, King will have already received $187,627 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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