Over 30 years of retirement, Olver would collect as much as $459,995, according to a projection by Local Government Information Services (LGIS), which publishes Rockford Sun.
The projection assumes Olver received $9,668 in the first year of retirement, then 3 percent annual increases thereafter, compounded.
After 2 years of retirement, Olver will have already received $19,626 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.
Alerts Sign-up