Ok. That funding is partially from the teachers. If you look at the current avg. pension for a retired Chicago teacher it is not exorbitant.
I’m not sure what conclusions can be drawn from that figure in any case since there are a lot more than 25,000 teachers drawing pensions.
The amount shown is the current year contributions required to provide future retirement benefits based upon an actuarial computation for their defined benefit plan. These would not be the teacher’s contributions. It uses present value calculations based upon the number of years to retirement, age, expected mortality, estimated yield on fund investments, and expected future retirement benefit.
I’m retired as a CPA and I used to audit pension plans.