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Chicago City Wire

Monday, April 15, 2024

Former teacher Brady paid in $113K to teachers' pension fund, could collect $2.21M in retirement

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Former teacher Linda Brady, who retired in July 2016, saved $113,241 toward a pension over 24 years working for public schools, Chicago Teachers' Pension Fund records show.

Over 30 years of retirement, Brady would collect as much as $2.21 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Brady received $46,511 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Brady will have already received $143,760 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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