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Chicago City Wire

Sunday, November 24, 2024

Former special education worker Fuentes paid in $159K to teachers' pension fund, could collect $3.08M in retirement

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Former special education worker Yolanda Fuentes, who retired in October 2016, saved $158,977 toward a pension over 38 years working for public schools, Chicago Teachers' Pension Fund records show.

Over 30 years of retirement, Fuentes would collect as much as $3.08 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Fuentes received $64,662 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Fuentes will have already received $199,864 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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