Over 30 years of retirement, Newton would collect as much as $4.38 million, according to a projection by Local Government Information Services (LGIS), which publishes NW Illinois News.
The projection assumes Newton received $92,142 in the first year of retirement, then 3 percent annual increases thereafter, compounded.
After 3 years of retirement, Newton will have already received $284,801 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.
Alerts Sign-up