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Chicago City Wire

Tuesday, December 24, 2024

Former special education worker Williamson paid in $138K to teachers' pension fund, could collect $2.88M in retirement

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Former special education worker Carolyn Williamson, who retired in November 2016, saved $138,205 toward a pension over 33 years working for public schools, Chicago Teachers' Pension Fund records show.

Over 30 years of retirement, Williamson would collect as much as $2.88 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Williamson received $60,572 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Williamson will have already received $187,222 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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