Over 30 years of retirement, Spates would collect as much as $2.32 million, according to a projection by Local Government Information Services (LGIS), which publishes Macon Reporter.
The projection assumes Spates received $48,786 in the first year of retirement, then 3 percent annual increases thereafter, compounded.
After 3 years of retirement, Spates will have already received $150,794 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.
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