Over 30 years of retirement, Herbst would collect as much as $2.34 million, according to a projection by Local Government Information Services (LGIS), which publishes Carbondale Reporter.
The projection assumes Herbst received $49,287 in the first year of retirement, then 3 percent annual increases thereafter, compounded.
After 3 years of retirement, Herbst will have already received $152,342 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.
Alerts Sign-up