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Chicago City Wire

Friday, April 26, 2024

Former school social worker Constantinides paid in $178K to teachers' pension fund, could collect $3.44M in retirement

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Former school social worker Helene Constantinides, who retired in March 2019, saved $177,900 toward a pension over 32 years working for public schools, Chicago Teachers' Pension Fund records show.

Over 30 years of retirement, Constantinides would collect as much as $3.44 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Constantinides received $72,371 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Constantinides will have already received $223,691 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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