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Chicago City Wire

Tuesday, August 5, 2025

Former teacher Wereldsma paid in $162K to teachers' pension fund, could collect $2.42M in retirement

Money272

Former teacher Edward Wereldsma, who retired in May 2018, saved $162,445 toward a pension over 28 years working for public schools, Chicago Teachers' Pension Fund records show.

Over 30 years of retirement, Wereldsma would collect as much as $2.42 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Wereldsma received $50,950 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Wereldsma will have already received $213,157 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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