Over 30 years of retirement, Madsen would collect as much as $23,515, according to a projection by Local Government Information Services (LGIS), which publishes Chambana Sun.
The projection assumes Madsen received $494 in the first year of retirement, then 3 percent annual increases thereafter, compounded.
After 4 years of retirement, Madsen will have already received $2,067 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.
Alerts Sign-up