Over 30 years of retirement, Spencer would collect as much as $1.1 million, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.
The projection assumes Spencer received $23,150 in the first year of retirement, then 3 percent annual increases thereafter, compounded.
After 2 years of retirement, Spencer will have already received $46,995 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.
Alerts Sign-up