Chicago City Wire

Chicago City Wire

Monday, November 11, 2019

Former school nurse Hemphill paid in $128K to teachers' pension fund, could collect $2.12M in retirement

Schools

By Local Labs News Service | Aug 1, 2017

Money 08

Former school nurse Rochelle Hemphill, who retired in July 2017, saved $127,601 toward a pension over 23 years working for public schools, Chicago Teachers' Pension Fund records show.

Over 30 years of retirement, Hemphill would collect as much as $2.12 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Hemphill received $44,469 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Hemphill will have already received $137,449 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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