Quantcast

Sangamon Sun

Tuesday, May 7, 2024

Former state university employee Swaar paid in $2K to pension fund, could collect $80K in retirement

Shutterstock 113962678

Former state university employee Kathy Swaar, who retired in January 2018, saved $1,715 toward a pension over 6 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Swaar would collect as much as $80,446, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Swaar received $1,690 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Swaar will have already received $3,431 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