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Chicago City Wire

Monday, November 25, 2024

Former bilingual teacher Camacho paid in $186K to teachers' pension fund, could collect $4.48M in retirement

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Former bilingual teacher Eileen Camacho, who retired in April 2016, saved $186,076 toward a pension over 34 years working for public schools, Chicago Teachers' Pension Fund records show.

Over 30 years of retirement, Camacho would collect as much as $4.48 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Camacho received $94,105 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Camacho will have already received $191,033 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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