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Chicago City Wire

Thursday, April 18, 2024

Former substitute teacher Turner paid in $130K to teachers' pension fund, could collect $2.24M in retirement

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Former substitute teacher Christine Turner, who retired in January 2018, saved $129,835 toward a pension over 26 years working for public schools, Chicago Teachers' Pension Fund records show.

Over 30 years of retirement, Turner would collect as much as $2.24 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Turner received $47,148 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Turner will have already received $145,729 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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