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Chicago City Wire

Sunday, September 29, 2024

Former teacher Ayala paid in $84K to teachers' pension fund, could collect $1.32M in retirement

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Former teacher Marjory Ayala, who retired in December 2016, saved $84,476 toward a pension over 17 years working for public schools, Chicago Teachers' Pension Fund records show.

Over 30 years of retirement, Ayala would collect as much as $1.32 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Ayala received $27,805 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Ayala will have already received $85,942 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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