Over 30 years of retirement, Schranz would collect as much as $2.01 million, according to a projection by Local Government Information Services (LGIS), which publishes South Cook News.
The projection assumes Schranz received $42,165 in the first year of retirement, then 3 percent annual increases thereafter, compounded.
After 3 years of retirement, Schranz will have already received $130,328 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.
Alerts Sign-up