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Chicago City Wire

Monday, November 25, 2024

Former state school employee Gurley paid in $245K to teachers' pension fund, could collect $5.5M in retirement

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Former state school employee Annette Gurley, who retired in September 2016, saved $244,875 toward a pension over 32 years working for public schools, Chicago Teachers' Pension Fund records show.

Over 30 years of retirement, Gurley would collect as much as $5.5 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Gurley received $115,698 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Gurley will have already received $357,611 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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