Over 30 years of retirement, Needham would collect as much as $577,184, according to a projection by Local Government Information Services (LGIS), which publishes Lake County Gazette.
The projection assumes Needham received $12,132 in the first year of retirement, then 3 percent annual increases thereafter, compounded.
After 4 years of retirement, Needham will have already received $50,756 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.
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