Over 30 years of retirement, Holmes Layman would collect as much as $1.89 million, according to a projection by Local Government Information Services (LGIS), which publishes East Central Reporter.
The projection assumes Holmes Layman received $39,708 in the first year of retirement, then 3 percent annual increases thereafter, compounded.
After 3 years of retirement, Holmes Layman will have already received $122,733 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.
Alerts Sign-up