Over 30 years of retirement, Peterson would collect as much as $3.93 million, according to a projection by Local Government Information Services (LGIS), which publishes Illinois Valley Times.
The projection assumes Peterson received $82,508 in the first year of retirement, then 3 percent annual increases thereafter, compounded.
After 2 years of retirement, Peterson will have already received $167,491 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.
Alerts Sign-up