Over 30 years of retirement, Shanks would collect as much as $263,941, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.
The projection assumes Shanks received $5,547 in the first year of retirement, then 3 percent annual increases thereafter, compounded.
After 4 years of retirement, Shanks will have already received $23,205 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.
Alerts Sign-up