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Chicago City Wire

Wednesday, April 24, 2024

Former substitute teacher Feldman paid in $1K to teachers' pension fund, could collect $45K in retirement

Money 02

Former substitute teacher Diane Feldman, who retired in February 2019, saved $1,118 toward a pension over 1 years working for public schools, Chicago Teachers' Pension Fund records show.

Over 30 years of retirement, Feldman would collect as much as $44,907, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Feldman received $943 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Feldman will have already received $1,914 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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