Over 30 years of retirement, Montoya would collect as much as $1.28 million, according to a projection by Local Government Information Services (LGIS), which publishes McHenry Times.
The projection assumes Montoya received $26,921 in the first year of retirement, then 3 percent annual increases thereafter, compounded.
After 2 years of retirement, Montoya will have already received $54,650 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.
Alerts Sign-up