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Chicago City Wire

Thursday, April 10, 2025

Former substitute teacher Bennett paid in $33K to teachers' pension fund, could collect $1.28M in retirement

Money272

Former substitute teacher Melia Bennett, who retired in May 2016, saved $33,019 toward a pension over 27 years working for public schools, Chicago Teachers' Pension Fund records show.

Over 30 years of retirement, Bennett would collect as much as $1.28 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Bennett received $26,822 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Bennett will have already received $54,449 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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