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Chicago City Wire

Monday, November 25, 2024

Former teacher Cameron paid in $105K to teachers' pension fund, could collect $2.52M in retirement

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Former teacher Barbara Cameron, who retired in February 2017, saved $105,073 toward a pension over 40 years working for public schools, Chicago Teachers' Pension Fund records show.

Over 30 years of retirement, Cameron would collect as much as $2.52 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Cameron received $52,880 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Cameron will have already received $107,346 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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