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Chicago City Wire

Tuesday, April 23, 2024

Former teacher Dudek paid in $120K to teachers' pension fund, could collect $2.2M in retirement

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Former teacher Iwona Dudek, who retired in April 2018, saved $119,971 toward a pension over 24 years working for public schools, Chicago Teachers' Pension Fund records show.

Over 30 years of retirement, Dudek would collect as much as $2.2 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Dudek received $46,257 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Dudek will have already received $142,976 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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