Over 30 years of retirement, Majors would collect as much as $322,669, according to a projection by Local Government Information Services (LGIS), which publishes North Cook News.
The projection assumes Majors received $6,782 in the first year of retirement, then 3 percent annual increases thereafter, compounded.
After 4 years of retirement, Majors will have already received $28,373 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.
Alerts Sign-up