Over 30 years of retirement, Loveland would collect as much as $414,699, according to a projection by Local Government Information Services (LGIS), which publishes North Cook News.
The projection assumes Loveland received $8,716 in the first year of retirement, then 3 percent annual increases thereafter, compounded.
After 2 years of retirement, Loveland will have already received $17,693 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.
Alerts Sign-up