Over 30 years of retirement, Backus would collect as much as $416,606, according to a projection by Local Government Information Services (LGIS), which publishes South Cook News.
The projection assumes Backus received $8,756 in the first year of retirement, then 3 percent annual increases thereafter, compounded.
After 1 years of retirement, Backus will have already received $8,756 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.
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