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Chicago City Wire

Monday, August 4, 2025

Former teacher Fitzgerald paid in $177K to teachers' pension fund, could collect $3.22M in retirement

Money 08

Former teacher James Fitzgerald, who retired in September 2018, saved $177,085 toward a pension over 53 years working for public schools, Chicago Teachers' Pension Fund records show.

Over 30 years of retirement, Fitzgerald would collect as much as $3.22 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Fitzgerald received $67,719 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Fitzgerald will have already received $209,314 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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