Chicago City Wire

Former teacher Willie Chatman, who retired in July 2018, saved $73,449 toward a pension over 13 years working for public schools, Chicago Teachers' Pension Fund records show.

Over 30 years of retirement, Chatman would collect as much as $1.15 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Chatman received $24,207 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Chatman will have already received $74,821 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.