Over 30 years of retirement, Norman would collect as much as $1.62 million, according to a projection by Local Government Information Services (LGIS), which publishes Grundy Reporter.
The projection assumes Norman received $34,123 in the first year of retirement, then 3 percent annual increases thereafter, compounded.
After 3 years of retirement, Norman will have already received $105,471 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.
Alerts Sign-up