Over 30 years of retirement, Meyer would collect as much as $2.31 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.
The projection assumes Meyer received $48,602 in the first year of retirement, then 3 percent annual increases thereafter, compounded.
After 3 years of retirement, Meyer will have already received $150,224 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.
Alerts Sign-up