Former substitute teacher Rodriguez paid in $30K to teachers' pension fund, could collect $436K in retirement

By Local Labs News Service

Nov 1, 2016

Former substitute teacher Luis Rodriguez, who retired in October 2016, saved $30,331 toward a pension over 9 years working for public schools, Chicago Teachers' Pension Fund records show.

Over 30 years of retirement, Rodriguez would collect as much as $436,415, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Rodriguez received $9,173 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Rodriguez will have already received $38,375 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Chicago Public Schools

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