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Chicago City Wire

Monday, November 25, 2024

Former special education worker Winters paid in $145K to teachers' pension fund, could collect $2.27M in retirement

Money759

Former special education worker Clyde Winters, who retired in February 2017, saved $144,804 toward a pension over 24 years working for public schools, Chicago Teachers' Pension Fund records show.

Over 30 years of retirement, Winters would collect as much as $2.27 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Winters received $47,667 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Winters will have already received $147,334 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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