Over 30 years of retirement, Homer would collect as much as $1.08 million, according to a projection by Local Government Information Services (LGIS), which publishes Lake County Gazette.
The projection assumes Homer received $22,623 in the first year of retirement, then 3 percent annual increases thereafter, compounded.
After 3 years of retirement, Homer will have already received $69,926 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.