Chicago City Wire

Former military instructor Eric Pierce, who retired in February 2018, saved $58,262 toward a pension over 13 years working for public schools, Chicago Teachers' Pension Fund records show.

Over 30 years of retirement, Pierce would collect as much as $958,688, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Pierce received $20,150 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Pierce will have already received $62,283 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.