Over 30 years of retirement, Gladstone would collect as much as $144,684, according to a projection by Local Government Information Services (LGIS), which publishes South Cook News.
The projection assumes Gladstone received $3,041 in the first year of retirement, then 3 percent annual increases thereafter, compounded.
After 2 years of retirement, Gladstone will have already received $6,173 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.
Alerts Sign-up