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Chicago City Wire

Friday, April 26, 2024

Former assistant principal Cosby paid in $123K to teachers' pension fund, could collect $2.47M in retirement

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Former assistant principal Bonita Cosby, who retired in April 2018, saved $123,191 toward a pension over 27 years working for public schools, Chicago Teachers' Pension Fund records show.

Over 30 years of retirement, Cosby would collect as much as $2.47 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Cosby received $51,852 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Cosby will have already received $160,270 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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