Chicago City Wire

Former state school employee David Kramer, who retired in April 2016, saved $59,304 toward a pension over 16 years working for public schools, Chicago Teachers' Pension Fund records show.

Over 30 years of retirement, Kramer would collect as much as $1.2 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Kramer received $25,318 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Kramer will have already received $78,256 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.