Quantcast

Sangamon Sun

Sunday, November 24, 2024

Former state university employee Bollman paid in $16K to pension fund, could collect $585K in retirement

Money836

Former state university employee Lois Bollman, who retired in June 2018, saved $15,565 toward a pension over 9 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Bollman would collect as much as $584,840, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Bollman received $12,292 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Bollman will have already received $24,953 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