Over 30 years of retirement, Schultz would collect as much as $1.57 million, according to a projection by Local Government Information Services (LGIS), which publishes Lake County Gazette.
The projection assumes Schultz received $32,957 in the first year of retirement, then 3 percent annual increases thereafter, compounded.
After 3 years of retirement, Schultz will have already received $101,867 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.
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