Over 30 years of retirement, Newman would collect as much as $1.82 million, according to a projection by Local Government Information Services (LGIS), which publishes West Central Reporter.
The projection assumes Newman received $38,288 in the first year of retirement, then 3 percent annual increases thereafter, compounded.
After 3 years of retirement, Newman will have already received $118,345 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.
Alerts Sign-up