Over 30 years of retirement, Spitz would collect as much as $3.47 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.
The projection assumes Spitz received $72,922 in the first year of retirement, then 3 percent annual increases thereafter, compounded.
After 2 years of retirement, Spitz will have already received $148,032 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.
Alerts Sign-up