Over 30 years of retirement, Spencer would collect as much as $2.08 million, according to a projection by Local Government Information Services (LGIS), which publishes Chambana Sun.
The projection assumes Spencer received $43,708 in the first year of retirement, then 3 percent annual increases thereafter, compounded.
After 3 years of retirement, Spencer will have already received $135,097 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.
Alerts Sign-up