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Chicago City Wire

Friday, April 19, 2024

Former substitute teacher Ciechowicz paid in $23K to teachers' pension fund, could collect $305K in retirement

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Former substitute teacher Andrzej Ciechowicz, who retired in December 2016, saved $22,953 toward a pension over 7 years working for public schools, Chicago Teachers' Pension Fund records show.

Over 30 years of retirement, Ciechowicz would collect as much as $304,530, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Ciechowicz received $6,401 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Ciechowicz will have already received $26,780 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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