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Chicago City Wire

Friday, April 26, 2024

Former teacher Cestou paid in $36K to teachers' pension fund, could collect $467K in retirement

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Former teacher Sara Cestou, who retired in December 2017, saved $36,365 toward a pension over 8 years working for public schools, Chicago Teachers' Pension Fund records show.

Over 30 years of retirement, Cestou would collect as much as $466,808, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Cestou received $9,811 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Cestou will have already received $41,044 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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