Over 30 years of retirement, Bailey would collect as much as $9.44 million, according to a projection by Local Government Information Services (LGIS), which publishes North Cook News.
The projection assumes Bailey received $198,357 in the first year of retirement, then 3 percent annual increases thereafter, compounded.
After 2 years of retirement, Bailey will have already received $402,665 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.
Alerts Sign-up