Over 30 years of retirement, Franzen would collect as much as $267,023, according to a projection by Local Government Information Services (LGIS), which publishes North Cook News.
The projection assumes Franzen received $5,612 in the first year of retirement, then 3 percent annual increases thereafter, compounded.
After 1 years of retirement, Franzen will have already received $5,612 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.
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