Chicago City Wire

Chicago City Wire

Sunday, November 17, 2019

Former teacher Robinson paid in $139K to teachers' pension fund, could collect $2.21M in retirement

Schools

By Local Labs News Service | Aug 1, 2017

Shutterstock 450769633

Former teacher Christopher Robinson, who retired in July 2017, saved $138,646 toward a pension over 28 years working for public schools, Chicago Teachers' Pension Fund records show.

Over 30 years of retirement, Robinson would collect as much as $2.21 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Robinson received $46,546 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Robinson will have already received $143,868 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

Want to get notified whenever we write about Chicago Public Schools ?

Sign-up Next time we write about Chicago Public Schools, we'll email you a link to the story. You may edit your settings or unsubscribe at any time.

Organizations in this Story

Chicago Public Schools

More News