Over 30 years of retirement, Ellingsen would collect as much as $4.9 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.
The projection assumes Ellingsen received $102,948 in the first year of retirement, then 3 percent annual increases thereafter, compounded.
After 3 years of retirement, Ellingsen will have already received $318,201 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.
Alerts Sign-up