Over 30 years of retirement, Pennell would collect as much as $678,315, according to a projection by Local Government Information Services (LGIS), which publishes West Cook News.
The projection assumes Pennell received $14,257 in the first year of retirement, then 3 percent annual increases thereafter, compounded.
After 2 years of retirement, Pennell will have already received $28,942 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.
Alerts Sign-up