Over 30 years of retirement, Larry would collect as much as $606,381, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.
The projection assumes Larry received $12,745 in the first year of retirement, then 3 percent annual increases thereafter, compounded.
After 3 years of retirement, Larry will have already received $39,393 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.
Alerts Sign-up