Over 30 years of retirement, McCarthy would collect as much as $719,391, according to a projection by Local Government Information Services (LGIS), which publishes South Cook News.
The projection assumes McCarthy received $15,121 in the first year of retirement, then 3 percent annual increases thereafter, compounded.
After 2 years of retirement, McCarthy will have already received $30,696 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.
Alerts Sign-up