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Chicago City Wire

Saturday, April 20, 2024

Former teacher Tofilski paid in $86K to teachers' pension fund, could collect $1.37M in retirement

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Former teacher Mary Tofilski, who retired in July 2016, saved $85,538 toward a pension over 16 years working for public schools, Chicago Teachers' Pension Fund records show.

Over 30 years of retirement, Tofilski would collect as much as $1.37 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Tofilski received $28,867 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Tofilski will have already received $89,225 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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