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Chicago City Wire

Sunday, September 29, 2024

Former teacher and speech pathologist Lambesis paid in $67K to teachers' pension fund, could collect $1.13M in retirement

Money 08

Former teacher and speech pathologist Cyrilla Lambesis, who retired in December 2016, saved $67,179 toward a pension over 12 years working for public schools, Chicago Teachers' Pension Fund records show.

Over 30 years of retirement, Lambesis would collect as much as $1.13 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Lambesis received $23,838 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Lambesis will have already received $73,681 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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