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Chicago City Wire

Monday, November 25, 2024

Former teacher Rosario paid in $120K to teachers' pension fund, could collect $2.53M in retirement

Money 03

Former teacher Judith Rosario, who retired in October 2016, saved $120,118 toward a pension over 29 years working for public schools, Chicago Teachers' Pension Fund records show.

Over 30 years of retirement, Rosario would collect as much as $2.53 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Rosario received $53,100 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Rosario will have already received $164,127 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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