Chicago City Wire

Chicago City Wire

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Former teacher Senteno paid in $166K to teachers' pension fund, could collect $2.49M in retirement

Schools

By Local Labs News Service | Aug 1, 2017

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Former teacher Laura Senteno, who retired in July 2017, saved $165,573 toward a pension over 31 years working for public schools, Chicago Teachers' Pension Fund records show.

Over 30 years of retirement, Senteno would collect as much as $2.49 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Senteno received $52,426 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Senteno will have already received $219,332 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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