Over 30 years of retirement, Mathewson would collect as much as $2.64 million, according to a projection by Local Government Information Services (LGIS), which publishes NW Illinois News.
The projection assumes Mathewson received $55,443 in the first year of retirement, then 3 percent annual increases thereafter, compounded.
After 3 years of retirement, Mathewson will have already received $171,368 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.
Alerts Sign-up