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Chicago City Wire

Saturday, April 20, 2024

Former teacher Hudson paid in $130K to teachers' pension fund, could collect $2.68M in retirement

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Former teacher Linda Hudson, who retired in July 2017, saved $129,975 toward a pension over 28 years working for public schools, Chicago Teachers' Pension Fund records show.

Over 30 years of retirement, Hudson would collect as much as $2.68 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Hudson received $56,337 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Hudson will have already received $174,132 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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