Former bilingual teacher Caballero paid in $104K to teachers' pension fund, could collect $2.1M in retirement

By Local Labs News Service

Mar 1, 2016

Former bilingual teacher Mario Caballero, who retired in February 2016, saved $104,258 toward a pension over 24 years working for public schools, Chicago Teachers' Pension Fund records show.

Over 30 years of retirement, Caballero would collect as much as $2.1 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Caballero received $44,156 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Caballero will have already received $136,482 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Chicago Public Schools

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