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Chicago City Wire

Saturday, April 20, 2024

Former substitute teacher Sapia paid in $102K to teachers' pension fund, could collect $1.93M in retirement

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Former substitute teacher Bennett Sapia, who retired in February 2019, saved $102,198 toward a pension over 21 years working for public schools, Chicago Teachers' Pension Fund records show.

Over 30 years of retirement, Sapia would collect as much as $1.93 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Sapia received $40,472 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Sapia will have already received $125,095 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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