Over 30 years of retirement, Cleveland would collect as much as $247,093, according to a projection by Local Government Information Services (LGIS), which publishes Will County Gazette.
The projection assumes Cleveland received $5,193 in the first year of retirement, then 3 percent annual increases thereafter, compounded.
After 3 years of retirement, Cleveland will have already received $16,051 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.
Alerts Sign-up