Over 30 years of retirement, Palermo would collect as much as $86,651, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.
The projection assumes Palermo received $1,821 in the first year of retirement, then 3 percent annual increases thereafter, compounded.
After 2 years of retirement, Palermo will have already received $3,697 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.
Alerts Sign-up