Over 30 years of retirement, Norman would collect as much as $62,616, according to a projection by Local Government Information Services (LGIS), which publishes Lake County Gazette.
The projection assumes Norman received $1,316 in the first year of retirement, then 3 percent annual increases thereafter, compounded.
After 2 years of retirement, Norman will have already received $2,671 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.
Alerts Sign-up