Over 30 years of retirement, Olin would collect as much as $286,343, according to a projection by Local Government Information Services (LGIS), which publishes Galesburg Reporter.
The projection assumes Olin received $6,018 in the first year of retirement, then 3 percent annual increases thereafter, compounded.
After 4 years of retirement, Olin will have already received $25,179 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.
Alerts Sign-up