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Chicago City Wire

Monday, November 25, 2024

Former teacher Voda paid in $43K to teachers' pension fund, could collect $661K in retirement

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Former teacher Jerrilyn Voda, who retired in April 2016, saved $43,207 toward a pension over 11 years working for public schools, Chicago Teachers' Pension Fund records show.

Over 30 years of retirement, Voda would collect as much as $660,513, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Voda received $13,883 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Voda will have already received $58,080 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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