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Chicago City Wire

Saturday, April 20, 2024

Former teacher Njie paid in $121K to teachers' pension fund, could collect $2.04M in retirement

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Former teacher Mustapha Njie, who retired in December 2018, saved $121,024 toward a pension over 20 years working for public schools, Chicago Teachers' Pension Fund records show.

Over 30 years of retirement, Njie would collect as much as $2.04 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Njie received $42,921 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Njie will have already received $132,665 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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