Over 30 years of retirement, Billingham Baikie would collect as much as $2.83 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.
The projection assumes Billingham Baikie received $59,544 in the first year of retirement, then 3 percent annual increases thereafter, compounded.
After 3 years of retirement, Billingham Baikie will have already received $184,044 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.
Alerts Sign-up