Over 30 years of retirement, Larsen would collect as much as $903,799, according to a projection by Local Government Information Services (LGIS), which publishes McHenry Times.
The projection assumes Larsen received $18,997 in the first year of retirement, then 3 percent annual increases thereafter, compounded.
After 3 years of retirement, Larsen will have already received $58,718 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.
Alerts Sign-up