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Chicago City Wire

Wednesday, December 25, 2024

Former teacher Rezmer paid in $75K to teachers' pension fund, could collect $1.28M in retirement

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Former teacher Carol Rezmer, who retired in November 2016, saved $75,340 toward a pension over 15 years working for public schools, Chicago Teachers' Pension Fund records show.

Over 30 years of retirement, Rezmer would collect as much as $1.28 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Rezmer received $27,009 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Rezmer will have already received $83,482 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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