Quantcast

Chicago City Wire

Thursday, April 17, 2025

Former teacher Hutson paid in $127K to teachers' pension fund, could collect $1.62M in retirement

Shutterstock 267646277

Former teacher Johnny Hutson, who retired in October 2016, saved $126,868 toward a pension over 26 years working for public schools, Chicago Teachers' Pension Fund records show.

Over 30 years of retirement, Hutson would collect as much as $1.62 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Hutson received $34,126 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Hutson will have already received $142,772 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

MORE NEWS