Over 30 years of retirement, Petterson would collect as much as $4.51 million, according to a projection by Local Government Information Services (LGIS), which publishes Lake County Gazette.
The projection assumes Petterson received $94,861 in the first year of retirement, then 3 percent annual increases thereafter, compounded.
After 3 years of retirement, Petterson will have already received $293,206 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.
Alerts Sign-up