Over 30 years of retirement, Randazzo would collect as much as $700,420, according to a projection by Local Government Information Services (LGIS), which publishes North Cook News.
The projection assumes Randazzo received $14,722 in the first year of retirement, then 3 percent annual increases thereafter, compounded.
After 2 years of retirement, Randazzo will have already received $29,886 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.
Alerts Sign-up