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Chicago City Wire

Sunday, September 29, 2024

Former special education worker Barksdale paid in $142K to teachers' pension fund, could collect $3.22M in retirement

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Former special education worker Johnny Barksdale, who retired in October 2016, saved $141,978 toward a pension over 33 years working for public schools, Chicago Teachers' Pension Fund records show.

Over 30 years of retirement, Barksdale would collect as much as $3.22 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Barksdale received $67,627 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Barksdale will have already received $209,029 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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