Chicago City Wire

Former teacher Harriet Smith, who retired in January 2016, saved $35,770 toward a pension over 7 years working for public schools, Chicago Teachers' Pension Fund records show.

Over 30 years of retirement, Smith would collect as much as $478,227, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Smith received $10,051 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Smith will have already received $42,052 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.