Over 30 years of retirement, Lutz would collect as much as $3.01 million, according to a projection by Local Government Information Services (LGIS), which publishes Grundy Reporter.
The projection assumes Lutz received $63,170 in the first year of retirement, then 3 percent annual increases thereafter, compounded.
After 2 years of retirement, Lutz will have already received $128,235 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.
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