Over 30 years of retirement, Newton would collect as much as $145,672, according to a projection by Local Government Information Services (LGIS), which publishes West Cook News.
The projection assumes Newton received $3,061 in the first year of retirement, then 3 percent annual increases thereafter, compounded.
After 1 years of retirement, Newton will have already received $3,061 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.
Alerts Sign-up