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Chicago City Wire

Sunday, August 3, 2025

Former elementary teacher Martinez paid in $25K to teachers' pension fund, could collect $293K in retirement

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Former elementary teacher Maria Martinez, who retired in September 2018, saved $24,763 toward a pension over 8 years working for public schools, Chicago Teachers' Pension Fund records show.

Over 30 years of retirement, Martinez would collect as much as $293,323, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Martinez received $6,165 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Martinez will have already received $25,793 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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