Over 30 years of retirement, Tarpey Cole would collect as much as $2.35 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.
The projection assumes Tarpey Cole received $49,395 in the first year of retirement, then 3 percent annual increases thereafter, compounded.
After 3 years of retirement, Tarpey Cole will have already received $152,675 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.
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