Over 30 years of retirement, Severtson would collect as much as $936,866, according to a projection by Local Government Information Services (LGIS), which publishes Peoria Standard.
The projection assumes Severtson received $19,692 in the first year of retirement, then 3 percent annual increases thereafter, compounded.
After 4 years of retirement, Severtson will have already received $82,384 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.
Alerts Sign-up