Chicago City Wire

Chicago City Wire

Friday, November 15, 2019

Former special education worker Salvador paid in $98K to teachers' pension fund, could collect $1.44M in retirement


By Local Labs News Service | May 1, 2018

Shutterstock 225154648

Former special education worker Doris Salvador, who retired in April 2018, saved $97,681 toward a pension over 19 years working for public schools, Chicago Teachers' Pension Fund records show.

Over 30 years of retirement, Salvador would collect as much as $1.44 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Salvador received $30,221 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Salvador will have already received $126,435 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

Want to get notified whenever we write about Chicago Public Schools ?

Sign-up Next time we write about Chicago Public Schools, we'll email you a link to the story. You may edit your settings or unsubscribe at any time.

Organizations in this Story

Chicago Public Schools

More News