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Chicago City Wire

Tuesday, December 24, 2024

Former teacher Zoric Montag paid in $111K to teachers' pension fund, could collect $2.18M in retirement

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Former teacher Diane Zoric Montag, who retired in August 2016, saved $110,947 toward a pension over 24 years working for public schools, Chicago Teachers' Pension Fund records show.

Over 30 years of retirement, Zoric Montag would collect as much as $2.18 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Zoric Montag received $45,833 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Zoric Montag will have already received $141,665 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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