Over 30 years of retirement, Shipley would collect as much as $2.14 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.
The projection assumes Shipley received $45,000 in the first year of retirement, then 3 percent annual increases thereafter, compounded.
After 3 years of retirement, Shipley will have already received $139,091 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.