Over 30 years of retirement, Knightly would collect as much as $2.3 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.
The projection assumes Knightly received $48,316 in the first year of retirement, then 3 percent annual increases thereafter, compounded.
After 3 years of retirement, Knightly will have already received $149,339 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.
Alerts Sign-up