Former teacher Roarty paid in $24K to teachers' pension fund, could collect $694K in retirement

By Local Labs News Service

Mar 1, 2019

Former teacher Denis Roarty, who retired in February 2019, saved $24,227 toward a pension over 8 years working for public schools, Chicago Teachers' Pension Fund records show.

Over 30 years of retirement, Roarty would collect as much as $694,106, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Roarty received $14,589 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Roarty will have already received $29,616 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

ORGANIZATIONS IN THIS STORY

Chicago Public Schools

!RECEIVE ALERTS

The next time we write about any of these orgs, we’ll email you a link to the story. You may edit your settings or unsubscribe at any time.

Sign-up

DONATE

Help support the Metric Media Foundation's mission to restore community based news.

Donate