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Chicago City Wire

Monday, December 23, 2024

Former substitute teacher Ladien paid in $39K to teachers' pension fund, could collect $643K in retirement

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Former substitute teacher Kenneth Ladien, who retired in August 2016, saved $39,396 toward a pension over 24 years working for public schools, Chicago Teachers' Pension Fund records show.

Over 30 years of retirement, Ladien would collect as much as $643,455, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Ladien received $13,524 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Ladien will have already received $41,802 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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