Over 30 years of retirement, Kovac would collect as much as $215,516, according to a projection by Local Government Information Services (LGIS), which publishes North Cook News.
The projection assumes Kovac received $4,530 in the first year of retirement, then 3 percent annual increases thereafter, compounded.
After 3 years of retirement, Kovac will have already received $14,002 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.
Alerts Sign-up