Over 30 years of retirement, McAlpin would collect as much as $5.41 million, according to a projection by Local Government Information Services (LGIS), which publishes South Cook News.
The projection assumes McAlpin received $113,797 in the first year of retirement, then 3 percent annual increases thereafter, compounded.
After 3 years of retirement, McAlpin will have already received $351,735 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.
Alerts Sign-up