Over 30 years of retirement, Tebbe would collect as much as $1.31 million, according to a projection by Local Government Information Services (LGIS), which publishes South Central Reporter.
The projection assumes Tebbe received $27,501 in the first year of retirement, then 3 percent annual increases thereafter, compounded.
After 4 years of retirement, Tebbe will have already received $115,054 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.
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