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Chicago City Wire

Tuesday, August 5, 2025

Former teacher Lewis paid in $118K to teachers' pension fund, could collect $2.38M in retirement

Money 02

Former teacher Phyllis Lewis, who retired in January 2018, saved $117,652 toward a pension over 26 years working for public schools, Chicago Teachers' Pension Fund records show.

Over 30 years of retirement, Lewis would collect as much as $2.38 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Lewis received $50,063 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Lewis will have already received $154,740 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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