Sangamon Sun

Sangamon Sun

Thursday, December 5, 2019

Former state university employee Sorrill paid in $40K to pension fund, could collect $783K in retirement

Schools

By Local Labs News Service | Feb 1, 2017

Money 04

Former state university employee Kathy Sorrill, who retired in January 2017, saved $40,426 toward a pension over 24 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Sorrill would collect as much as $782,607, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Sorrill received $16,449 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Sorrill will have already received $50,841 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

Want to get notified whenever we write about Southern Illinois University Carbondale ?

Sign-up Next time we write about Southern Illinois University Carbondale, we'll email you a link to the story. You may edit your settings or unsubscribe at any time.

Organizations in this Story

Southern Illinois University Carbondale

More News