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Chicago City Wire

Monday, November 25, 2024

Former teacher Koehler paid in $110K to teachers' pension fund, could collect $2.14M in retirement

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Former teacher Barbara Koehler, who retired in April 2016, saved $109,850 toward a pension over 23 years working for public schools, Chicago Teachers' Pension Fund records show.

Over 30 years of retirement, Koehler would collect as much as $2.14 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Koehler received $44,919 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Koehler will have already received $138,841 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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