Quantcast

Sangamon Sun

Monday, November 25, 2024

Former state university employee Bogard paid in $109K to pension fund, could collect $2.6M in retirement

Shutterstock 65427295

Former state university employee Timothy Bogard, who retired in January 2018, saved $108,774 toward a pension over 35 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Bogard would collect as much as $2.6 million, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Bogard received $54,666 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Bogard will have already received $110,972 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