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Chicago City Wire

Saturday, July 12, 2025

Former part-time teacher Santacruz paid in $61K to teachers' pension fund, could collect $1.11M in retirement

Money272

Former part-time teacher Ruben Santacruz, who retired in March 2016, saved $61,035 toward a pension over 17 years working for public schools, Chicago Teachers' Pension Fund records show.

Over 30 years of retirement, Santacruz would collect as much as $1.11 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Santacruz received $23,327 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Santacruz will have already received $72,102 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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