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Chicago City Wire

Wednesday, April 24, 2024

Former assistant principal Medina paid in $128K to teachers' pension fund, could collect $2.97M in retirement

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Former assistant principal Lillian Medina, who retired in February 2019, saved $127,901 toward a pension over 27 years working for public schools, Chicago Teachers' Pension Fund records show.

Over 30 years of retirement, Medina would collect as much as $2.97 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Medina received $62,408 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Medina will have already received $192,896 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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