Over 30 years of retirement, Cole would collect as much as $555,387, according to a projection by Local Government Information Services (LGIS), which publishes North Cook News.
The projection assumes Cole received $11,673 in the first year of retirement, then 3 percent annual increases thereafter, compounded.
After 1 years of retirement, Cole will have already received $11,673 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.
Alerts Sign-up