Over 30 years of retirement, Cork would collect as much as $2.4 million, according to a projection by Local Government Information Services (LGIS), which publishes Chambana Sun.
The projection assumes Cork received $50,453 in the first year of retirement, then 3 percent annual increases thereafter, compounded.
After 3 years of retirement, Cork will have already received $155,946 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.
Alerts Sign-up