Chicago City Wire

Chicago City Wire

Thursday, January 23, 2020

Former teacher Shields paid in $147K to teachers' pension fund, could collect $2.87M in retirement

Schools

By Local Labs News Service | Apr 1, 2016

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Former teacher Cynthia Shields, who retired in March 2016, saved $146,649 toward a pension over 30 years working for public schools, Chicago Teachers' Pension Fund records show.

Over 30 years of retirement, Shields would collect as much as $2.87 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Shields received $60,282 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Shields will have already received $186,325 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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