Over 30 years of retirement, Smith would collect as much as $641,177, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.
The projection assumes Smith received $13,477 in the first year of retirement, then 3 percent annual increases thereafter, compounded.
After 3 years of retirement, Smith will have already received $41,655 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.
Alerts Sign-up