Over 30 years of retirement, Mahoney would collect as much as $2.67 million, according to a projection by Local Government Information Services (LGIS), which publishes North Cook News.
The projection assumes Mahoney received $56,128 in the first year of retirement, then 3 percent annual increases thereafter, compounded.
After 3 years of retirement, Mahoney will have already received $173,486 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.
Alerts Sign-up