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Chicago City Wire

Wednesday, December 25, 2024

Former teacher Bass French paid in $135K to teachers' pension fund, could collect $1.91M in retirement

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Former teacher Carmelita Bass French, who retired in November 2016, saved $134,633 toward a pension over 26 years working for public schools, Chicago Teachers' Pension Fund records show.

Over 30 years of retirement, Bass French would collect as much as $1.91 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Bass French received $40,085 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Bass French will have already received $167,703 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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