Over 30 years of retirement, Taylor would collect as much as $495,722, according to a projection by Local Government Information Services (LGIS), which publishes West Cook News.
The projection assumes Taylor received $10,419 in the first year of retirement, then 3 percent annual increases thereafter, compounded.
After 2 years of retirement, Taylor will have already received $21,151 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.
Alerts Sign-up