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Chicago City Wire

Sunday, December 22, 2024

Former teacher Ziegler paid in $42K to teachers' pension fund, could collect $478K in retirement

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Former teacher Susan Ziegler, who retired in November 2017, saved $41,971 toward a pension over 7 years working for public schools, Chicago Teachers' Pension Fund records show.

Over 30 years of retirement, Ziegler would collect as much as $477,904, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Ziegler received $10,045 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Ziegler will have already received $42,023 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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