Over 30 years of retirement, Cole would collect as much as $1.78 million, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.
The projection assumes Cole received $37,451 in the first year of retirement, then 3 percent annual increases thereafter, compounded.
After 2 years of retirement, Cole will have already received $76,026 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.
Alerts Sign-up