Quantcast

Sangamon Sun

Thursday, May 2, 2024

Former state university employee Neitzke paid in $75K to pension fund, could collect $1.71M in retirement

Shutterstock 381111379

Former state university employee Carolyn Neitzke, who retired in January 2016, saved $75,021 toward a pension over 26 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Neitzke would collect as much as $1.71 million, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Neitzke received $35,841 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Neitzke will have already received $110,780 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