Over 30 years of retirement, Bowden would collect as much as $2.95 million, according to a projection by Local Government Information Services (LGIS), which publishes North Egypt News.
The projection assumes Bowden received $62,090 in the first year of retirement, then 3 percent annual increases thereafter, compounded.
After 3 years of retirement, Bowden will have already received $191,915 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.
Alerts Sign-up