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Chicago City Wire

Friday, April 19, 2024

Former bilingual teacher Rodriguez paid in $118K to teachers' pension fund, could collect $2.36M in retirement

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Former bilingual teacher Luz Rodriguez, who retired in March 2019, saved $117,865 toward a pension over 25 years working for public schools, Chicago Teachers' Pension Fund records show.

Over 30 years of retirement, Rodriguez would collect as much as $2.36 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Rodriguez received $49,647 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Rodriguez will have already received $153,453 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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