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Chicago City Wire

Tuesday, April 8, 2025

Former teacher Fitzgerald paid in $141K to teachers' pension fund, could collect $2.74M in retirement

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Former teacher Thelma Fitzgerald, who retired in October 2016, saved $140,937 toward a pension over 29 years working for public schools, Chicago Teachers' Pension Fund records show.

Over 30 years of retirement, Fitzgerald would collect as much as $2.74 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Fitzgerald received $57,634 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Fitzgerald will have already received $178,141 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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