Over 30 years of retirement, Smith would collect as much as $733,984, according to a projection by Local Government Information Services (LGIS), which publishes McLean County Times.
The projection assumes Smith received $15,427 in the first year of retirement, then 3 percent annual increases thereafter, compounded.
After 3 years of retirement, Smith will have already received $47,684 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.
Alerts Sign-up