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Chicago City Wire

Monday, November 25, 2024

Former assistant principal Ruiz paid in $168K to teachers' pension fund, could collect $3.38M in retirement

Money 07

Former assistant principal Betsy Ruiz, who retired in February 2017, saved $167,798 toward a pension over 26 years working for public schools, Chicago Teachers' Pension Fund records show.

Over 30 years of retirement, Ruiz would collect as much as $3.38 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Ruiz received $71,144 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Ruiz will have already received $219,898 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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