Over 30 years of retirement, Bounds Beverly would collect as much as $3.53 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.
The projection assumes Bounds Beverly received $74,271 in the first year of retirement, then 3 percent annual increases thereafter, compounded.
After 3 years of retirement, Bounds Beverly will have already received $229,564 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.
Alerts Sign-up