Over 30 years of retirement, Applegate would collect as much as $2.64 million, according to a projection by Local Government Information Services (LGIS), which publishes East Central Reporter.
The projection assumes Applegate received $55,472 in the first year of retirement, then 3 percent annual increases thereafter, compounded.
After 3 years of retirement, Applegate will have already received $171,458 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.
Alerts Sign-up