Over 30 years of retirement, Velez would collect as much as $1.84 million, according to a projection by Local Government Information Services (LGIS), which publishes Lake County Gazette.
The projection assumes Velez received $38,643 in the first year of retirement, then 3 percent annual increases thereafter, compounded.
After 3 years of retirement, Velez will have already received $119,441 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.
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