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Chicago City Wire

Monday, November 25, 2024

Former teacher Youkhanna paid in $137K to teachers' pension fund, could collect $2.43M in retirement

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Former teacher Carol Youkhanna, who retired in February 2017, saved $136,701 toward a pension over 27 years working for public schools, Chicago Teachers' Pension Fund records show.

Over 30 years of retirement, Youkhanna would collect as much as $2.43 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Youkhanna received $51,116 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Youkhanna will have already received $157,993 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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