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Chicago City Wire

Thursday, April 17, 2025

Former teacher Thomas paid in $29K to teachers' pension fund, could collect $416K in retirement

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Former teacher Homer Thomas, who retired in May 2016, saved $28,713 toward a pension over 7 years working for public schools, Chicago Teachers' Pension Fund records show.

Over 30 years of retirement, Thomas would collect as much as $415,736, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Thomas received $8,738 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Thomas will have already received $36,556 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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