Quantcast

Sangamon Sun

Monday, December 23, 2024

Former state university employee Doolin paid in $5K to pension fund, could collect $351K in retirement

Money272

Former state university employee Patricia Doolin, who retired in January 2016, saved $4,910 toward a pension over 4 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Doolin would collect as much as $351,015, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Doolin received $7,378 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 1 years of retirement, Doolin will have already received $7,378 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