Quantcast

Sangamon Sun

Tuesday, April 16, 2024

Former state university employee Bowles paid in $7K to pension fund, could collect $411K in retirement

Money 04

Former state university employee Monzelle Bowles, who retired in January 2018, saved $6,849 toward a pension over 7 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Bowles would collect as much as $411,005, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Bowles received $8,639 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 1 years of retirement, Bowles will have already received $8,639 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