Over 30 years of retirement, McLaughlin would collect as much as $1.21 million, according to a projection by Local Government Information Services (LGIS), which publishes South Cook News.
The projection assumes McLaughlin received $25,404 in the first year of retirement, then 3 percent annual increases thereafter, compounded.
After 4 years of retirement, McLaughlin will have already received $106,281 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.
Alerts Sign-up