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Chicago City Wire

Sunday, November 24, 2024

Former teacher Eshafi Mohebahmadi paid in $96K to teachers' pension fund, could collect $1.45M in retirement

Money 07

Former teacher Nouri Eshafi Mohebahmadi, who retired in October 2016, saved $95,535 toward a pension over 15 years working for public schools, Chicago Teachers' Pension Fund records show.

Over 30 years of retirement, Eshafi Mohebahmadi would collect as much as $1.45 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Eshafi Mohebahmadi received $30,387 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Eshafi Mohebahmadi will have already received $127,129 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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