Quantcast

Chicago City Wire

Sunday, September 29, 2024

Former teacher Hahm paid in $172K to teachers' pension fund, could collect $2.68M in retirement

Shutterstock 450769633

Former teacher John Hahm, who retired in October 2016, saved $172,286 toward a pension over 28 years working for public schools, Chicago Teachers' Pension Fund records show.

Over 30 years of retirement, Hahm would collect as much as $2.68 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Hahm received $56,322 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Hahm will have already received $174,086 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

MORE NEWS