Over 30 years of retirement, Merrill would collect as much as $1.26 million, according to a projection by Local Government Information Services (LGIS), which publishes Lake County Gazette.
The projection assumes Merrill received $26,568 in the first year of retirement, then 3 percent annual increases thereafter, compounded.
After 5 years of retirement, Merrill will have already received $141,054 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.
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