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Chicago City Wire

Friday, April 19, 2024

Former teacher Dongas paid in $137K to teachers' pension fund, could collect $2.23M in retirement

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Former teacher James Dongas, who retired in December 2017, saved $136,917 toward a pension over 27 years working for public schools, Chicago Teachers' Pension Fund records show.

Over 30 years of retirement, Dongas would collect as much as $2.23 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Dongas received $46,965 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Dongas will have already received $145,164 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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