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Chicago City Wire

Monday, August 4, 2025

Former teacher Danko paid in $61K to teachers' pension fund, could collect $1.11M in retirement

Money 08

Former teacher Michele Danko, who retired in April 2018, saved $61,100 toward a pension over 15 years working for public schools, Chicago Teachers' Pension Fund records show.

Over 30 years of retirement, Danko would collect as much as $1.11 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Danko received $23,332 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Danko will have already received $72,117 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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