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Discussion: (4 comments)

  1. I just retired from teaching at age 60 in California (which I dare say probably has a higher cost of living than Chicago) and with 27 years of combined public service. Their retirement is what I was earning and my retirement pay is 74% of that (2% for each year of service).
    Yeah, the Chicago teachers DESERVE to be pointed out as GREEDY! (but Chicago is the place of the Chicago Machine that helped put a FRAUD in the White House, so it all makes sense)

  2. I think it’s $77,496. Schedule of average Benefit Payments table, Average Monthly Pension * 12, right? Or $6,458*12? $78,576 would be $6,548* 12 – it’s just an inversion of two digits. (It’s obviously not meaningfully different, I was just trying to figure out where the numbers came from.)

  3. According to a recent analysis in the Chicago Sun Times (http://www.suntimes.com/14298715-460/blue-collar-suburbs-offer-blue-chip-teacher-pay.html), teacher salaries max out in Chicago at about $95,000.

  4. acriticalthinker

    Because I don’t like to accept assertions without checking them out, I checked the Chicago Teachers’ Pension Fund annual report that was linked to by Mr. Biggs above to see if Mr. Biggs was taking liberties with facts. He is correct. See page 110 of the report. If you want to check for yourself, be warned: you will have to employ “advanced” mathematical skills in multiplying the monthly salary and pension figures by the number of months in a year (hint: that would be “12″)

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