Former teacher Skogsberg paid in $25K to teachers' pension fund, could collect $314K in retirement

By Local Labs News Service

Jul 1, 2016

Former teacher Teresa Skogsberg, who retired in June 2016, saved $25,001 toward a pension over 6 years working for public schools, Chicago Teachers' Pension Fund records show.

Over 30 years of retirement, Skogsberg would collect as much as $313,626, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Skogsberg received $6,592 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Skogsberg will have already received $27,580 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Chicago Public Schools

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