Quantcast

Sangamon Sun

Saturday, November 23, 2024

Former state university employee Sage paid in $49K to pension fund, could collect $1.43M in retirement

Money836

Former state university employee Judith Sage, who retired in April 2016, saved $49,148 toward a pension over 10 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Sage would collect as much as $1.43 million, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Sage received $30,063 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Sage will have already received $61,028 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