Over 30 years of retirement, Severinsen would collect as much as $1.36 million, according to a projection by Local Government Information Services (LGIS), which publishes Peoria Standard.
The projection assumes Severinsen received $28,569 in the first year of retirement, then 3 percent annual increases thereafter, compounded.
After 4 years of retirement, Severinsen will have already received $119,522 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.