Over 30 years of retirement, Merchen would collect as much as $8.63 million, according to a projection by Local Government Information Services (LGIS), which publishes Chambana Sun.
The projection assumes Merchen received $181,305 in the first year of retirement, then 3 percent annual increases thereafter, compounded.
After 2 years of retirement, Merchen will have already received $368,049 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.
Alerts Sign-up