Over 30 years of retirement, Borchelt would collect as much as $326,380, according to a projection by Local Government Information Services (LGIS), which publishes Kendall County Times.
The projection assumes Borchelt received $6,860 in the first year of retirement, then 3 percent annual increases thereafter, compounded.
After 2 years of retirement, Borchelt will have already received $13,926 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.
Alerts Sign-up