Over 30 years of retirement, Hoffsommer would collect as much as $1.14 million, according to a projection by Local Government Information Services (LGIS), which publishes Chambana Sun.
The projection assumes Hoffsommer received $23,886 in the first year of retirement, then 3 percent annual increases thereafter, compounded.
After 3 years of retirement, Hoffsommer will have already received $73,830 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.
Alerts Sign-up