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Chicago City Wire

Tuesday, April 30, 2024

Former teacher Widtmann paid in $118K to teachers' pension fund, could collect $2.32M in retirement

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Former teacher Marion Widtmann, who retired in February 2016, saved $117,552 toward a pension over 26 years working for public schools, Chicago Teachers' Pension Fund records show.

Over 30 years of retirement, Widtmann would collect as much as $2.32 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Widtmann received $48,852 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Widtmann will have already received $150,998 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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