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Chicago City Wire

Monday, November 25, 2024

Former elementary teacher Bartholomay paid in $17K to teachers' pension fund, could collect $190K in retirement

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Former elementary teacher Jacqueline Bartholomay, who retired in February 2017, saved $16,777 toward a pension over 7 years working for public schools, Chicago Teachers' Pension Fund records show.

Over 30 years of retirement, Bartholomay would collect as much as $189,993, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Bartholomay received $3,993 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 5 years of retirement, Bartholomay will have already received $21,199 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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