Quantcast

Sangamon Sun

Thursday, November 14, 2024

Former state university employee Helm paid in $2K to pension fund, could collect $68K in retirement

Shutterstock 262120544

Former state university employee James Helm, who retired in April 2019, saved $1,772 toward a pension over 5 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Helm would collect as much as $67,937, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Helm received $1,428 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Helm will have already received $2,899 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

ORGANIZATIONS IN THIS STORY

!RECEIVE ALERTS

The next time we write about any of these orgs, we’ll email you a link to the story. You may edit your settings or unsubscribe at any time.
Sign-up

DONATE

Help support the Metric Media Foundation's mission to restore community based news.
Donate

MORE NEWS