Over 30 years of retirement, Shultz would collect as much as $2.88 million, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.
The projection assumes Shultz received $60,515 in the first year of retirement, then 3 percent annual increases thereafter, compounded.
After 2 years of retirement, Shultz will have already received $122,845 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.
Alerts Sign-up