Over 30 years of retirement, Gaul would collect as much as $780,375, according to a projection by Local Government Information Services (LGIS), which publishes McHenry Times.
The projection assumes Gaul received $16,402 in the first year of retirement, then 3 percent annual increases thereafter, compounded.
After 3 years of retirement, Gaul will have already received $50,697 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.
Alerts Sign-up