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Chicago City Wire

Sunday, November 24, 2024

Former administrator Jones paid in $93K to teachers' pension fund, could collect $1.31M in retirement

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Former administrator Deloris Jones, who retired in October 2017, saved $93,342 toward a pension over 13 years working for public schools, Chicago Teachers' Pension Fund records show.

Over 30 years of retirement, Jones would collect as much as $1.31 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Jones received $27,579 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Jones will have already received $115,379 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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