Over 30 years of retirement, Schmitt would collect as much as $1.15 million, according to a projection by Local Government Information Services (LGIS), which publishes Illinois Valley Times.
The projection assumes Schmitt received $24,143 in the first year of retirement, then 3 percent annual increases thereafter, compounded.
After 4 years of retirement, Schmitt will have already received $101,004 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.
Alerts Sign-up