Chicago City Wire

Chicago City Wire

Monday, January 27, 2020

Former bilingual teacher Franco paid in $148K to teachers' pension fund, could collect $2.67M in retirement


By Local Labs News Service | Jan 1, 2019

Shutterstock 267646277

Former bilingual teacher Gabriela Franco, who retired in December 2018, saved $147,733 toward a pension over 30 years working for public schools, Chicago Teachers' Pension Fund records show.

Over 30 years of retirement, Franco would collect as much as $2.67 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Franco received $56,186 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Franco will have already received $173,666 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

Want to get notified whenever we write about Chicago Public Schools ?

Sign-up Next time we write about Chicago Public Schools, we'll email you a link to the story. You may edit your settings or unsubscribe at any time.

Organizations in this Story

Chicago Public Schools

More News