Chicago City Wire

Former principal Lorraine Balesh, who retired in August 2016, saved $158,111 toward a pension over 37 years working for public schools, Chicago Teachers' Pension Fund records show.

Over 30 years of retirement, Balesh would collect as much as $4.45 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Balesh received $93,478 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Balesh will have already received $189,760 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.