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Chicago City Wire

Tuesday, December 24, 2024

Former teacher Breitberg paid in $88K to teachers' pension fund, could collect $1.31M in retirement

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Former teacher Pamela Breitberg, who retired in August 2016, saved $88,194 toward a pension over 14 years working for public schools, Chicago Teachers' Pension Fund records show.

Over 30 years of retirement, Breitberg would collect as much as $1.31 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Breitberg received $27,532 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Breitberg will have already received $115,184 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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