Over 30 years of retirement, Degroot would collect as much as $1.66 million, according to a projection by Local Government Information Services (LGIS), which publishes South Cook News.
The projection assumes Degroot received $34,840 in the first year of retirement, then 3 percent annual increases thereafter, compounded.
After 4 years of retirement, Degroot will have already received $145,758 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.
Alerts Sign-up