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Chicago City Wire

Thursday, April 25, 2024

Former special education worker Pantaleo paid in $78K to teachers' pension fund, could collect $1.48M in retirement

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Former special education worker Deborah Pantaleo, who retired in August 2018, saved $77,756 toward a pension over 17 years working for public schools, Chicago Teachers' Pension Fund records show.

Over 30 years of retirement, Pantaleo would collect as much as $1.48 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Pantaleo received $31,130 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Pantaleo will have already received $96,220 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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