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Chicago City Wire

Friday, April 19, 2024

Former special education worker Widman paid in $50K to teachers' pension fund, could collect $643K in retirement

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Former special education worker Cheryl Widman, who retired in October 2017, saved $49,991 toward a pension over 9 years working for public schools, Chicago Teachers' Pension Fund records show.

Over 30 years of retirement, Widman would collect as much as $642,815, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Widman received $13,511 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Widman will have already received $56,523 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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