Over 30 years of retirement, Loete would collect as much as $374,262, according to a projection by Local Government Information Services (LGIS), which publishes Rock Island Today.
The projection assumes Loete received $7,866 in the first year of retirement, then 3 percent annual increases thereafter, compounded.
After 1 years of retirement, Loete will have already received $7,866 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.
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