Quantcast

Sangamon Sun

Friday, April 19, 2024

Former state university employee Lordan paid in $146K to pension fund, could collect $3.28M in retirement

Shutterstock 443523118

Former state university employee Ellenora Lordan, who retired in June 2017, saved $145,986 toward a pension over 27 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Lordan would collect as much as $3.28 million, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Lordan received $68,859 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Lordan will have already received $212,837 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