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Chicago City Wire

Monday, November 25, 2024

Former bilingual teacher Mesa paid in $90K to teachers' pension fund, could collect $1.43M in retirement

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Former bilingual teacher Maria Mesa, who retired in April 2016, saved $90,415 toward a pension over 20 years working for public schools, Chicago Teachers' Pension Fund records show.

Over 30 years of retirement, Mesa would collect as much as $1.43 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Mesa received $30,135 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Mesa will have already received $93,144 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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