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Chicago City Wire

Wednesday, May 8, 2024

Former bilingual teacher Guerra paid in $106K to teachers' pension fund, could collect $1.63M in retirement

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Former bilingual teacher Griselda Guerra, who retired in October 2018, saved $106,448 toward a pension over 17 years working for public schools, Chicago Teachers' Pension Fund records show.

Over 30 years of retirement, Guerra would collect as much as $1.63 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Guerra received $34,183 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Guerra will have already received $143,007 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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