Over 30 years of retirement, Powell would collect as much as $1.09 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.
The projection assumes Powell received $22,868 in the first year of retirement, then 3 percent annual increases thereafter, compounded.
After 3 years of retirement, Powell will have already received $70,683 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.
Alerts Sign-up