Over 30 years of retirement, Piha would collect as much as $1.5 million, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.
The projection assumes Piha received $31,544 in the first year of retirement, then 3 percent annual increases thereafter, compounded.
After 3 years of retirement, Piha will have already received $97,499 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.
Alerts Sign-up