Over 30 years of retirement, Blumberg would collect as much as $3.28 million, according to a projection by Local Government Information Services (LGIS), which publishes Lake County Gazette.
The projection assumes Blumberg received $68,994 in the first year of retirement, then 3 percent annual increases thereafter, compounded.
After 3 years of retirement, Blumberg will have already received $213,254 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.
Alerts Sign-up