Chicago City Wire

Chicago City Wire

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Former substitute teacher Klich paid in $14K to teachers' pension fund, could collect $130K in retirement

Schools

By Local Labs News Service | Jan 1, 2018

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Former substitute teacher Lorry Klich, who retired in December 2017, saved $13,520 toward a pension over 5 years working for public schools, Chicago Teachers' Pension Fund records show.

Over 30 years of retirement, Klich would collect as much as $129,576, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Klich received $2,723 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 5 years of retirement, Klich will have already received $14,458 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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