Over 30 years of retirement, Caires would collect as much as $1.12 million, according to a projection by Local Government Information Services (LGIS), which publishes Metro East Sun.
The projection assumes Caires received $23,488 in the first year of retirement, then 3 percent annual increases thereafter, compounded.
After 3 years of retirement, Caires will have already received $72,600 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.
Alerts Sign-up