Over 30 years of retirement, Redding would collect as much as $1.47 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.
The projection assumes Redding received $30,910 in the first year of retirement, then 3 percent annual increases thereafter, compounded.
After 3 years of retirement, Redding will have already received $95,539 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.
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