Over 30 years of retirement, Bailey would collect as much as $1.64 million, according to a projection by Local Government Information Services (LGIS), which publishes Will County Gazette.
The projection assumes Bailey received $34,470 in the first year of retirement, then 3 percent annual increases thereafter, compounded.
After 3 years of retirement, Bailey will have already received $106,543 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.
Alerts Sign-up