Over 30 years of retirement, Gesell would collect as much as $1.28 million, according to a projection by Local Government Information Services (LGIS), which publishes East Central Reporter.
The projection assumes Gesell received $26,832 in the first year of retirement, then 3 percent annual increases thereafter, compounded.
After 3 years of retirement, Gesell will have already received $82,935 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.
Alerts Sign-up