Quantcast

Sangamon Sun

Thursday, April 25, 2024

Former state university employee Lidy paid in $14K to pension fund, could collect $666K in retirement

Shutterstock 450769633

Former state university employee Judith Lidy, who retired in August 2016, saved $13,685 toward a pension over 7 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Lidy would collect as much as $665,840, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Lidy received $13,995 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 1 years of retirement, Lidy will have already received $13,995 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