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Chicago City Wire

Monday, August 4, 2025

Former teacher Lopez paid in $148K to teachers' pension fund, could collect $2.69M in retirement

Money 02

Former teacher Ricardo Lopez, who retired in July 2018, saved $147,852 toward a pension over 30 years working for public schools, Chicago Teachers' Pension Fund records show.

Over 30 years of retirement, Lopez would collect as much as $2.69 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Lopez received $56,547 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Lopez will have already received $174,780 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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