Over 30 years of retirement, McPhillips Pearson would collect as much as $5.04 million, according to a projection by Local Government Information Services (LGIS), which publishes Lake County Gazette.
The projection assumes McPhillips Pearson received $106,020 in the first year of retirement, then 3 percent annual increases thereafter, compounded.
After 2 years of retirement, McPhillips Pearson will have already received $215,221 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.