Over 30 years of retirement, Rae would collect as much as $2.76 million, according to a projection by Local Government Information Services (LGIS), which publishes West Cook News.
The projection assumes Rae received $57,985 in the first year of retirement, then 3 percent annual increases thereafter, compounded.
After 3 years of retirement, Rae will have already received $179,227 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.
Alerts Sign-up