Quantcast

Sangamon Sun

Thursday, April 25, 2024

Former state university employee Pleasure paid in $56K to pension fund, could collect $1.21M in retirement

Shutterstock 373239541

Former state university employee Marcella Pleasure, who retired in September 2017, saved $55,816 toward a pension over 26 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Pleasure would collect as much as $1.21 million, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Pleasure received $25,454 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Pleasure will have already received $78,677 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