Over 30 years of retirement, Sherwood would collect as much as $3.1 million, according to a projection by Local Government Information Services (LGIS), which publishes Southern Illinois News.
The projection assumes Sherwood received $65,148 in the first year of retirement, then 3 percent annual increases thereafter, compounded.
After 2 years of retirement, Sherwood will have already received $132,250 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.
Alerts Sign-up