Over 30 years of retirement, Grimm would collect as much as $2.4 million, according to a projection by Local Government Information Services (LGIS), which publishes North Cook News.
The projection assumes Grimm received $50,481 in the first year of retirement, then 3 percent annual increases thereafter, compounded.
After 3 years of retirement, Grimm will have already received $156,031 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.
Alerts Sign-up