Chicago City Wire

Former substitute teacher Elizabeth Nichols, who retired in February 2018, saved $10,604 toward a pension over 5 years working for public schools, Chicago Teachers' Pension Fund records show.

Over 30 years of retirement, Nichols would collect as much as $119,734, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Nichols received $2,516 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 5 years of retirement, Nichols will have already received $13,356 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.