Over 30 years of retirement, Townsend would collect as much as $1.58 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.
The projection assumes Townsend received $33,192 in the first year of retirement, then 3 percent annual increases thereafter, compounded.
After 3 years of retirement, Townsend will have already received $102,594 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.
Alerts Sign-up