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Chicago City Wire

Monday, August 4, 2025

Former state school employee Owens paid in $18K to teachers' pension fund, could collect $214K in retirement

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Former state school employee Lola Owens, who retired in September 2018, saved $18,186 toward a pension over 5 years working for public schools, Chicago Teachers' Pension Fund records show.

Over 30 years of retirement, Owens would collect as much as $213,845, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Owens received $4,494 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Owens will have already received $18,802 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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