Unlike in the real world where you only get a severance payment if you are fired WITHOUT cause, MLAs and city councillors in Alberta often do get paid out a severance (which they slyly call a Transition Allowance) if they resign, retire or are defeated in an election.

For the City of Calgary, the severance is calculated at two weeks salary for every year served, up to a maximum of 52 weeks.

Currently the mayor of Calgary is paid $183,093.26 and aldermen are paid $97,551.46.

There are two retiring members of council, Mayor Dave Bronconnier and Alderman Joe Ceci.  Based on my back of the napkin math (well, I actually did it with a calculator, but just in case I got something wrong, let's go with calling it back of the napkin and estimates), I estimate Dave Bronconnier is eligible to receive roughly $126,757 as a "transition allowance" in addition to his pension (which he likely can't collect for a few years) and his campaign war chest surplus (which he's said he's going to donate to charity, but is under no legal obligation to do so), which sits at $316,052 (if he didn't fund-raise after the last election).

I also estimate that Joe Ceci is eligible to collect roughly $56,279.69 as a "transition allowance" in addition to his pension and campaign surplus which sat at $41,679 last election.

Of course there are a handful of current aldermen who were seeking the mayor's seat.  Not all of them are going to win, with Bob Hawksworth and Joe Connelly being the most likely not to win.

Bob Hawksworth is eligible to collect roughly $90,047.50 as a transition allowance if he doesn't win, in addition to his pension.

Joe Connelly is eligible to collect roughly $11,255.94 as a transition allowance if he doesn't win, in addition to his pension (although I'm not sure if there are rules about how long you have to be an alderman before it's vested...)

As for the other mayoral contender, Ric McIver, if you believe the polls he has the best chance of winning, but if he doesn't, he could collect roughly $33,767.81 as a transition allowance in addition to his pension.

Post-Election Update:

Ward 14's former alderman, Linda Fox-Mellway was elected the same year as Joe Ceci, and will also receive roughly $56,279.69 as a transition allowance in addition to her pension.