Over 30 years of retirement, Schwerin would collect as much as $3.06 million, according to a projection by Local Government Information Services (LGIS), which publishes West Cook News.
The projection assumes Schwerin received $64,268 in the first year of retirement, then 3 percent annual increases thereafter, compounded.
After 3 years of retirement, Schwerin will have already received $198,646 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.
Alerts Sign-up