Quantcast

Sangamon Sun

Tuesday, November 26, 2024

Former state university employee Misiak paid in $128K to pension fund, could collect $2.41M in retirement

Shutterstock 121161052

Former state university employee William Misiak, who retired in July 2018, saved $127,805 toward a pension over 26 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Misiak would collect as much as $2.41 million, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Misiak received $50,627 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Misiak will have already received $156,483 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