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Chicago City Wire

Monday, November 25, 2024

Former teacher Henton paid in $110K to teachers' pension fund, could collect $2.09M in retirement

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Former teacher Cathy Henton, who retired in September 2016, saved $110,260 toward a pension over 24 years working for public schools, Chicago Teachers' Pension Fund records show.

Over 30 years of retirement, Henton would collect as much as $2.09 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Henton received $43,859 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Henton will have already received $135,564 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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