Over 30 years of retirement, Piha would collect as much as $558,299, according to a projection by Local Government Information Services (LGIS), which publishes West Cook News.
The projection assumes Piha received $11,735 in the first year of retirement, then 3 percent annual increases thereafter, compounded.
After 4 years of retirement, Piha will have already received $49,096 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.
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