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Chicago City Wire

Tuesday, December 24, 2024

Former special education worker Ross paid in $147K to teachers' pension fund, could collect $2.4M in retirement

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Former special education worker Shirley Ross, who retired in August 2016, saved $146,923 toward a pension over 27 years working for public schools, Chicago Teachers' Pension Fund records show.

Over 30 years of retirement, Ross would collect as much as $2.4 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Ross received $50,397 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Ross will have already received $155,772 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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