Quantcast

Chicago City Wire

Wednesday, August 6, 2025

Former teacher Ross paid in $51K to teachers' pension fund, could collect $2.51M in retirement

Shutterstock 385535740

Former teacher Melinda Ross, who retired in January 2018, saved $50,547 toward a pension over 16 years working for public schools, Chicago Teachers' Pension Fund records show.

Over 30 years of retirement, Ross would collect as much as $2.51 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Ross received $52,845 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 1 years of retirement, Ross will have already received $52,845 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

MORE NEWS