Over 30 years of retirement, Pierson would collect as much as $1.01 million, according to a projection by Local Government Information Services (LGIS), which publishes Rockford Sun.
The projection assumes Pierson received $21,220 in the first year of retirement, then 3 percent annual increases thereafter, compounded.
After 4 years of retirement, Pierson will have already received $88,778 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.
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