Over 30 years of retirement, Gindlesparger would collect as much as $1.13 million, according to a projection by Local Government Information Services (LGIS), which publishes North Egypt News.
The projection assumes Gindlesparger received $23,799 in the first year of retirement, then 3 percent annual increases thereafter, compounded.
After 3 years of retirement, Gindlesparger will have already received $73,560 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.
Alerts Sign-up