Over 30 years of retirement, Simonson would collect as much as $481,175, according to a projection by Local Government Information Services (LGIS), which publishes Galesburg Reporter.
The projection assumes Simonson received $10,113 in the first year of retirement, then 3 percent annual increases thereafter, compounded.
After 1 years of retirement, Simonson will have already received $10,113 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.
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