Quantcast

Chicago City Wire

Saturday, August 2, 2025

Former high school teacher Cruz paid in $60K to teachers' pension fund, could collect $1.08M in retirement

Money 07

Former high school teacher Esperanza Cruz, who retired in November 2018, saved $59,642 toward a pension over 19 years working for public schools, Chicago Teachers' Pension Fund records show.

Over 30 years of retirement, Cruz would collect as much as $1.08 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Cruz received $22,804 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Cruz will have already received $70,485 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

MORE NEWS