Over 30 years of retirement, Gibson would collect as much as $1.42 million, according to a projection by Local Government Information Services (LGIS), which publishes Kane County Reporter.
The projection assumes Gibson received $29,877 in the first year of retirement, then 3 percent annual increases thereafter, compounded.
After 1 years of retirement, Gibson will have already received $29,877 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.
Alerts Sign-up