Over 30 years of retirement, Bassewitz would collect as much as $1.34 million, according to a projection by Local Government Information Services (LGIS), which publishes Lake County Gazette.
The projection assumes Bassewitz received $28,174 in the first year of retirement, then 3 percent annual increases thereafter, compounded.
After 3 years of retirement, Bassewitz will have already received $87,083 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.
Alerts Sign-up