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Chicago City Wire

Wednesday, August 6, 2025

Former teacher Tam paid in $23K to teachers' pension fund, could collect $300K in retirement

Money759

Former teacher Benjamin Tam, who retired in December 2017, saved $22,664 toward a pension over 11 years working for public schools, Chicago Teachers' Pension Fund records show.

Over 30 years of retirement, Tam would collect as much as $299,702, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Tam received $6,299 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Tam will have already received $26,353 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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