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Chicago City Wire

Thursday, December 26, 2024

Former teacher Robinson paid in $142K to teachers' pension fund, could collect $3.34M in retirement

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Former teacher Alan Robinson, who retired in November 2016, saved $141,693 toward a pension over 31 years working for public schools, Chicago Teachers' Pension Fund records show.

Over 30 years of retirement, Robinson would collect as much as $3.34 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Robinson received $70,277 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Robinson will have already received $142,662 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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