Chicago City Wire

Chicago City Wire

Tuesday, November 19, 2019

Former special education worker Sanchez paid in $147K to teachers' pension fund, could collect $3.21M in retirement

Schools

By Local Labs News Service | Mar 1, 2019

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Former special education worker Deborah Sanchez, who retired in February 2019, saved $146,945 toward a pension over 32 years working for public schools, Chicago Teachers' Pension Fund records show.

Over 30 years of retirement, Sanchez would collect as much as $3.21 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Sanchez received $67,431 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Sanchez will have already received $208,423 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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