Over 30 years of retirement, Olsen would collect as much as $1.09 million, according to a projection by Local Government Information Services (LGIS), which publishes West Cook News.
The projection assumes Olsen received $22,904 in the first year of retirement, then 3 percent annual increases thereafter, compounded.
After 3 years of retirement, Olsen will have already received $70,794 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.
Alerts Sign-up