Over 30 years of retirement, Jones would collect as much as $2.25 million, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.
The projection assumes Jones received $47,242 in the first year of retirement, then 3 percent annual increases thereafter, compounded.
After 3 years of retirement, Jones will have already received $146,020 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.
Alerts Sign-up