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Chicago City Wire

Monday, August 4, 2025

Former elementary teacher Baker paid in $7K to teachers' pension fund, could collect $339K in retirement

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Former elementary teacher Deborah Baker, who retired in September 2018, saved $6,740 toward a pension over 2 years working for public schools, Chicago Teachers' Pension Fund records show.

Over 30 years of retirement, Baker would collect as much as $339,145, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Baker received $7,128 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 1 years of retirement, Baker will have already received $7,128 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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