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Chicago City Wire

Friday, April 19, 2024

Former substitute teacher Dadzie paid in $19K to teachers' pension fund, could collect $240K in retirement

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Former substitute teacher Dorcas Dadzie, who retired in February 2019, saved $18,733 toward a pension over 8 years working for public schools, Chicago Teachers' Pension Fund records show.

Over 30 years of retirement, Dadzie would collect as much as $240,322, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Dadzie received $5,051 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Dadzie will have already received $21,133 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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