Over 30 years of retirement, Peabody would collect as much as $2.53 million, according to a projection by Local Government Information Services (LGIS), which publishes DeKalb Times.
The projection assumes Peabody received $53,264 in the first year of retirement, then 3 percent annual increases thereafter, compounded.
After 2 years of retirement, Peabody will have already received $108,126 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.
Alerts Sign-up