Over 30 years of retirement, Cowen would collect as much as $1.03 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.
The projection assumes Cowen received $21,617 in the first year of retirement, then 3 percent annual increases thereafter, compounded.
After 3 years of retirement, Cowen will have already received $66,817 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.
Alerts Sign-up