Over 30 years of retirement, Phelps would collect as much as $124,862, according to a projection by Local Government Information Services (LGIS), which publishes North Egypt News.
The projection assumes Phelps received $2,624 in the first year of retirement, then 3 percent annual increases thereafter, compounded.
After 2 years of retirement, Phelps will have already received $5,327 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.
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