Over 30 years of retirement, Lange would collect as much as $3.73 million, according to a projection by Local Government Information Services (LGIS), which publishes Kane County Reporter.
The projection assumes Lange received $78,376 in the first year of retirement, then 3 percent annual increases thereafter, compounded.
After 3 years of retirement, Lange will have already received $242,252 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.
Alerts Sign-up