Former substitute teacher Davis paid in $6K to teachers' pension fund, could collect $184K in retirement

By Local Labs News Service

Mar 1, 2019

Former substitute teacher Steven Davis, who retired in February 2019, saved $5,885 toward a pension over 1 years working for public schools, Chicago Teachers' Pension Fund records show.

Over 30 years of retirement, Davis would collect as much as $183,705, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Davis received $3,861 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Davis will have already received $7,838 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Chicago Public Schools

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