Over 30 years of retirement, Ludwig would collect as much as $2.6 million, according to a projection by Local Government Information Services (LGIS), which publishes South Cook News.
The projection assumes Ludwig received $54,575 in the first year of retirement, then 3 percent annual increases thereafter, compounded.
After 4 years of retirement, Ludwig will have already received $228,320 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.
Alerts Sign-up