Quantcast

Sangamon Sun

Friday, November 22, 2024

Former state university employee Clow paid in $8K to pension fund, could collect $446K in retirement

Money 06

Former state university employee Adela Clow, who retired in January 2018, saved $8,084 toward a pension over 13 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Clow would collect as much as $445,739, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Clow received $9,369 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 1 years of retirement, Clow will have already received $9,369 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