Over 30 years of retirement, Michelson would collect as much as $1.55 million, according to a projection by Local Government Information Services (LGIS), which publishes East Central Reporter.
The projection assumes Michelson received $32,493 in the first year of retirement, then 3 percent annual increases thereafter, compounded.
After 1 years of retirement, Michelson will have already received $32,493 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.
Alerts Sign-up