Chicago City Wire

Former teacher Charles Hayes, who retired in September 2018, saved $14,093 toward a pension over 4 years working for public schools, Chicago Teachers' Pension Fund records show.

Over 30 years of retirement, Hayes would collect as much as $213,296, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Hayes received $4,483 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Hayes will have already received $18,755 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.