Over 30 years of retirement, Wood would collect as much as $3.64 million, according to a projection by Local Government Information Services (LGIS), which publishes Illinois Valley Times.
The projection assumes Wood received $76,578 in the first year of retirement, then 3 percent annual increases thereafter, compounded.
After 3 years of retirement, Wood will have already received $236,694 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.
Alerts Sign-up