Over 30 years of retirement, Gibson would collect as much as $6.69 million, according to a projection by Local Government Information Services (LGIS), which publishes Rockford Sun.
The projection assumes Gibson received $140,626 in the first year of retirement, then 3 percent annual increases thereafter, compounded.
After 2 years of retirement, Gibson will have already received $285,471 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.
Alerts Sign-up