Over 30 years of retirement, Walter would collect as much as $2.43 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.
The projection assumes Walter received $51,074 in the first year of retirement, then 3 percent annual increases thereafter, compounded.
After 2 years of retirement, Walter will have already received $103,680 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.
Alerts Sign-up