Over 30 years of retirement, Pedersen would collect as much as $861,980, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.
The projection assumes Pedersen received $18,118 in the first year of retirement, then 3 percent annual increases thereafter, compounded.
After 4 years of retirement, Pedersen will have already received $75,801 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.