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Chicago City Wire

Sunday, November 24, 2024

Former teacher Artuz paid in $47K to teachers' pension fund, could collect $804K in retirement

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Former teacher Aida Artuz, who retired in October 2016, saved $47,282 toward a pension over 13 years working for public schools, Chicago Teachers' Pension Fund records show.

Over 30 years of retirement, Artuz would collect as much as $804,184, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Artuz received $16,903 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Artuz will have already received $52,245 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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