Over 30 years of retirement, Willhoit would collect as much as $872,582, according to a projection by Local Government Information Services (LGIS), which publishes Rockford Sun.
The projection assumes Willhoit received $18,341 in the first year of retirement, then 3 percent annual increases thereafter, compounded.
After 4 years of retirement, Willhoit will have already received $76,732 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.
Alerts Sign-up