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Chicago City Wire

Monday, August 4, 2025

Former elementary teacher Park paid in $33K to teachers' pension fund, could collect $661K in retirement

Money 07

Former elementary teacher Kyu Park, who retired in September 2018, saved $33,438 toward a pension over 17 years working for public schools, Chicago Teachers' Pension Fund records show.

Over 30 years of retirement, Park would collect as much as $660,919, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Park received $13,892 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Park will have already received $42,939 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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