Over 30 years of retirement, Novak would collect as much as $392,234, according to a projection by Local Government Information Services (LGIS), which publishes Illinois Valley Times.
The projection assumes Novak received $8,244 in the first year of retirement, then 3 percent annual increases thereafter, compounded.
After 3 years of retirement, Novak will have already received $25,481 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.
Alerts Sign-up