Chicago City Wire

Former state school employee Alan Mather, who retired in January 2019, saved $243,036 toward a pension over 33 years working for public schools, Chicago Teachers' Pension Fund records show.

Over 30 years of retirement, Mather would collect as much as $6.02 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Mather received $126,548 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Mather will have already received $256,892 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.