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Chicago City Wire

Saturday, August 2, 2025

Former substitute teacher Horne paid in $29K to teachers' pension fund, could collect $459K in retirement

Money 07

Former substitute teacher Ralph Horne, who retired in November 2018, saved $29,317 toward a pension over 17 years working for public schools, Chicago Teachers' Pension Fund records show.

Over 30 years of retirement, Horne would collect as much as $459,262, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Horne received $9,653 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Horne will have already received $29,837 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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