Chicago City Wire

Former state school employee Barbara Karpouzian, who retired in February 2016, saved $130,674 toward a pension over 23 years working for public schools, Chicago Teachers' Pension Fund records show.

Over 30 years of retirement, Karpouzian would collect as much as $1.83 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Karpouzian received $38,408 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Karpouzian will have already received $160,684 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.