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Chicago City Wire

Thursday, April 18, 2024

Former teacher Skulski paid in $77K to teachers' pension fund, could collect $1.13M in retirement

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Former teacher Mark Skulski, who retired in January 2018, saved $77,351 toward a pension over 18 years working for public schools, Chicago Teachers' Pension Fund records show.

Over 30 years of retirement, Skulski would collect as much as $1.13 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Skulski received $23,831 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Skulski will have already received $99,699 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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