Former teacher Anderson paid in $37K to teachers' pension fund, could collect $528K in retirement

By Rock Island Today Reports

Dec 1, 2018

Former teacher Thomas Anderson, who retired in November 2018, saved $37,345 toward a pension over 11 years working for public schools, Chicago Teachers' Pension Fund records show.

Over 30 years of retirement, Anderson would collect as much as $528,380, according to a projection by Local Government Information Services (LGIS), which publishes Rock Island Today.

The projection assumes Anderson received $11,106 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Anderson will have already received $46,462 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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