Over 30 years of retirement, Bodenhamer would collect as much as $2.59 million, according to a projection by Local Government Information Services (LGIS), which publishes Galesburg Reporter.
The projection assumes Bodenhamer received $54,516 in the first year of retirement, then 3 percent annual increases thereafter, compounded.
After 3 years of retirement, Bodenhamer will have already received $168,503 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.
Alerts Sign-up