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Chicago City Wire

Thursday, April 25, 2024

Former school counselor Castillo paid in $155K to teachers' pension fund, could collect $3.18M in retirement

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Former school counselor Nydia Castillo, who retired in July 2017, saved $155,232 toward a pension over 32 years working for public schools, Chicago Teachers' Pension Fund records show.

Over 30 years of retirement, Castillo would collect as much as $3.18 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Castillo received $66,921 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Castillo will have already received $206,847 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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