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Chicago City Wire

Friday, May 3, 2024

Former special education worker Crespo paid in $83K to teachers' pension fund, could collect $1.29M in retirement

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Former special education worker Teresa Crespo, who retired in February 2016, saved $83,134 toward a pension over 15 years working for public schools, Chicago Teachers' Pension Fund records show.

Over 30 years of retirement, Crespo would collect as much as $1.29 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Crespo received $27,122 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Crespo will have already received $83,832 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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