Over 30 years of retirement, Smith would collect as much as $542,022, according to a projection by Local Government Information Services (LGIS), which publishes Chambana Sun.
The projection assumes Smith received $11,392 in the first year of retirement, then 3 percent annual increases thereafter, compounded.
After 4 years of retirement, Smith will have already received $47,661 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.
Alerts Sign-up