Over 30 years of retirement, Shultz would collect as much as $1.04 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.
The projection assumes Shultz received $21,885 in the first year of retirement, then 3 percent annual increases thereafter, compounded.
After 4 years of retirement, Shultz will have already received $91,560 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.
Alerts Sign-up