Over 30 years of retirement, Bogenschutz would collect as much as $3.57 million, according to a projection by Local Government Information Services (LGIS), which publishes Lake County Gazette.
The projection assumes Bogenschutz received $75,047 in the first year of retirement, then 3 percent annual increases thereafter, compounded.
After 3 years of retirement, Bogenschutz will have already received $231,962 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.
Alerts Sign-up