Over 30 years of retirement, Lutz would collect as much as $2.64 million, according to a projection by Local Government Information Services (LGIS), which publishes McLean County Times.
The projection assumes Lutz received $55,404 in the first year of retirement, then 3 percent annual increases thereafter, compounded.
After 3 years of retirement, Lutz will have already received $171,248 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.
Alerts Sign-up