Quantcast

Sangamon Sun

Wednesday, April 24, 2024

Former state university employee Grinter paid in $121K to pension fund, could collect $1.82M in retirement

Shutterstock 121161052

Former state university employee Mark Grinter, who retired in June 2018, saved $120,569 toward a pension over 17 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Grinter would collect as much as $1.82 million, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Grinter received $38,181 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Grinter will have already received $159,734 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