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Chicago City Wire

Monday, November 25, 2024

Former special education worker Berg paid in $10K to teachers' pension fund, could collect $118K in retirement

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Former special education worker Joann Berg, who retired in February 2017, saved $10,205 toward a pension over 2 years working for public schools, Chicago Teachers' Pension Fund records show.

Over 30 years of retirement, Berg would collect as much as $117,571, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Berg received $2,471 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Berg will have already received $10,337 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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