Quantcast

Sangamon Sun

Tuesday, November 5, 2024

Former state university employee Twardzik paid in $90K to pension fund, could collect $1.7M in retirement

Money272

Former state university employee Paul Twardzik, who retired in January 2019, saved $90,118 toward a pension over 29 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Twardzik would collect as much as $1.7 million, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Twardzik received $35,712 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Twardzik will have already received $110,381 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