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Chicago City Wire

Friday, April 19, 2024

Former military instructor Westbrook paid in $121K to teachers' pension fund, could collect $1.92M in retirement

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Former military instructor Stanley Westbrook, who retired in February 2019, saved $121,242 toward a pension over 20 years working for public schools, Chicago Teachers' Pension Fund records show.

Over 30 years of retirement, Westbrook would collect as much as $1.92 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Westbrook received $40,275 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Westbrook will have already received $124,485 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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