Over 30 years of retirement, Pagel would collect as much as $603,229, according to a projection by Local Government Information Services (LGIS), which publishes North Cook News.
The projection assumes Pagel received $12,679 in the first year of retirement, then 3 percent annual increases thereafter, compounded.
After 2 years of retirement, Pagel will have already received $25,738 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.
Alerts Sign-up