Over 30 years of retirement, Canfield would collect as much as $378,464, according to a projection by Local Government Information Services (LGIS), which publishes Galesburg Reporter.
The projection assumes Canfield received $7,955 in the first year of retirement, then 3 percent annual increases thereafter, compounded.
After 3 years of retirement, Canfield will have already received $24,589 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.
Alerts Sign-up