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Chicago City Wire

Friday, April 26, 2024

Former commandant Zepeda paid in $121K to teachers' pension fund, could collect $1.83M in retirement

Money 08

Former commandant Cesar Zepeda, who retired in July 2016, saved $120,972 toward a pension over 21 years working for public schools, Chicago Teachers' Pension Fund records show.

Over 30 years of retirement, Zepeda would collect as much as $1.83 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Zepeda received $38,503 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Zepeda will have already received $161,082 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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