Over 30 years of retirement, Reising Rechner would collect as much as $2.93 million, according to a projection by Local Government Information Services (LGIS), which publishes South Central Reporter.
The projection assumes Reising Rechner received $61,678 in the first year of retirement, then 3 percent annual increases thereafter, compounded.
After 3 years of retirement, Reising Rechner will have already received $190,640 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.
Alerts Sign-up