Over 30 years of retirement, Peterson would collect as much as $1.28 million, according to a projection by Local Government Information Services (LGIS), which publishes Rockford Sun.
The projection assumes Peterson received $26,933 in the first year of retirement, then 3 percent annual increases thereafter, compounded.
After 3 years of retirement, Peterson will have already received $83,247 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.
Alerts Sign-up