Quantcast

Sangamon Sun

Tuesday, April 23, 2024

Former state university employee Reynolds paid in $4K to pension fund, could collect $153K in retirement

Shutterstock 443523118

Former state university employee Kim Reynolds, who retired in July 2016, saved $3,959 toward a pension over 3 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Reynolds would collect as much as $152,637, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Reynolds received $3,208 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Reynolds will have already received $6,512 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