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Chicago City Wire

Thursday, December 26, 2024

Former teacher Selvie paid in $134K to teachers' pension fund, could collect $1.67M in retirement

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Former teacher Adrian Selvie, who retired in November 2016, saved $133,518 toward a pension over 25 years working for public schools, Chicago Teachers' Pension Fund records show.

Over 30 years of retirement, Selvie would collect as much as $1.67 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Selvie received $35,002 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Selvie will have already received $146,436 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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