Over 30 years of retirement, Riphagen would collect as much as $740,463, according to a projection by Local Government Information Services (LGIS), which publishes South Cook News.
The projection assumes Riphagen received $15,564 in the first year of retirement, then 3 percent annual increases thereafter, compounded.
After 4 years of retirement, Riphagen will have already received $65,114 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.
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