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Chicago City Wire

Thursday, April 18, 2024

Former substitute teacher Bhola paid in $10K to teachers' pension fund, could collect $122K in retirement

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Former substitute teacher Inderjeet Bhola, who retired in April 2018, saved $10,478 toward a pension over 6 years working for public schools, Chicago Teachers' Pension Fund records show.

Over 30 years of retirement, Bhola would collect as much as $122,007, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Bhola received $2,564 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Bhola will have already received $10,727 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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