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Chicago City Wire

Monday, December 23, 2024

Former military instructor Ruiz paid in $64K to teachers' pension fund, could collect $819K in retirement

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Former military instructor Roberto Ruiz, who retired in August 2016, saved $63,640 toward a pension over 9 years working for public schools, Chicago Teachers' Pension Fund records show.

Over 30 years of retirement, Ruiz would collect as much as $818,510, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Ruiz received $17,204 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Ruiz will have already received $71,976 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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