Over 30 years of retirement, Gierke would collect as much as $872,531, according to a projection by Local Government Information Services (LGIS), which publishes Lake County Gazette.
The projection assumes Gierke received $18,339 in the first year of retirement, then 3 percent annual increases thereafter, compounded.
After 2 years of retirement, Gierke will have already received $37,228 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.
Alerts Sign-up