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Chicago City Wire

Monday, August 4, 2025

Former high school teacher Torres paid in $47K to teachers' pension fund, could collect $620K in retirement

Money 01

Former high school teacher Carlos Torres, who retired in September 2018, saved $46,781 toward a pension over 18 years working for public schools, Chicago Teachers' Pension Fund records show.

Over 30 years of retirement, Torres would collect as much as $619,886, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Torres received $13,029 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Torres will have already received $54,510 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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