Over 30 years of retirement, Newhouse would collect as much as $4.09 million, according to a projection by Local Government Information Services (LGIS), which publishes North Cook News.
The projection assumes Newhouse received $86,019 in the first year of retirement, then 3 percent annual increases thereafter, compounded.
After 3 years of retirement, Newhouse will have already received $265,877 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.
Alerts Sign-up