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Chicago City Wire

Friday, November 22, 2024

Former teacher Sceske paid in $40K to teachers' pension fund, could collect $525K in retirement

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Former teacher Vickie Sceske, who retired in February 2018, saved $39,651 toward a pension over 10 years working for public schools, Chicago Teachers' Pension Fund records show.

Over 30 years of retirement, Sceske would collect as much as $525,332, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Sceske received $11,042 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Sceske will have already received $46,194 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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