Chicago City Wire

Former teacher Olivia Smith, who retired in March 2018, saved $37,786 toward a pension over 10 years working for public schools, Chicago Teachers' Pension Fund records show.

Over 30 years of retirement, Smith would collect as much as $561,543, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Smith received $11,803 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Smith will have already received $49,380 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.