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Chicago City Wire

Friday, July 11, 2025

Former teacher Cragin paid in $85K to teachers' pension fund, could collect $952K in retirement

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Former teacher Loretta Cragin, who retired in January 2016, saved $85,221 toward a pension over 22 years working for public schools, Chicago Teachers' Pension Fund records show.

Over 30 years of retirement, Cragin would collect as much as $951,867, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Cragin received $20,007 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 5 years of retirement, Cragin will have already received $106,219 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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