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Chicago City Wire

Monday, November 25, 2024

Former teacher Yeh paid in $61K to teachers' pension fund, could collect $909K in retirement

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Former teacher Shu Ming Yeh, who retired in October 2016, saved $60,922 toward a pension over 11 years working for public schools, Chicago Teachers' Pension Fund records show.

Over 30 years of retirement, Yeh would collect as much as $908,900, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Yeh received $19,104 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Yeh will have already received $79,923 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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