Chicago City Wire

Former teacher Lorna Smith, who retired in December 2016, saved $156,710 toward a pension over 28 years working for public schools, Chicago Teachers' Pension Fund records show.

Over 30 years of retirement, Smith would collect as much as $2.77 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Smith received $58,187 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Smith will have already received $179,851 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.