Quantcast

Chicago City Wire

Monday, August 4, 2025

Former teacher Martin paid in $151K to teachers' pension fund, could collect $2.2M in retirement

Shutterstock 443523118

Former teacher James Martin, who retired in August 2018, saved $150,644 toward a pension over 32 years working for public schools, Chicago Teachers' Pension Fund records show.

Over 30 years of retirement, Martin 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 Martin received $46,266 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Martin will have already received $193,561 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

MORE NEWS