Quantcast

Chicago City Wire

Thursday, April 17, 2025

Former teacher Common paid in $88K to teachers' pension fund, could collect $1.3M in retirement

Shutterstock 113962678

Former teacher Carol Common, who retired in May 2016, saved $87,852 toward a pension over 16 years working for public schools, Chicago Teachers' Pension Fund records show.

Over 30 years of retirement, Common would collect as much as $1.3 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Common received $27,342 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Common will have already received $114,388 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

MORE NEWS