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Chicago City Wire

Monday, December 23, 2024

Former assistant principal Morris paid in $121K to teachers' pension fund, could collect $1.72M in retirement

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Former assistant principal Jacqueline Morris, who retired in November 2016, saved $121,300 toward a pension over 20 years working for public schools, Chicago Teachers' Pension Fund records show.

Over 30 years of retirement, Morris would collect as much as $1.72 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Morris received $36,068 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Morris will have already received $150,896 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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