Over 30 years of retirement, Degenhart would collect as much as $1.38 million, according to a projection by Local Government Information Services (LGIS), which publishes Kankakee Times.
The projection assumes Degenhart received $28,974 in the first year of retirement, then 3 percent annual increases thereafter, compounded.
After 4 years of retirement, Degenhart will have already received $121,215 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.
Alerts Sign-up