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Chicago City Wire

Thursday, April 17, 2025

Former teacher Johnson paid in $118K to teachers' pension fund, could collect $2.32M in retirement

Money 08

Former teacher Michael Johnson, who retired in May 2016, saved $118,328 toward a pension over 26 years working for public schools, Chicago Teachers' Pension Fund records show.

Over 30 years of retirement, Johnson would collect as much as $2.32 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Johnson received $48,863 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Johnson will have already received $151,031 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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