Quantcast

Sangamon Sun

Tuesday, April 23, 2024

Former state university employee Hefler paid in $31K to pension fund, could collect $502K in retirement

Shutterstock 469426916

Former state university employee Georgia Hefler, who retired in May 2017, saved $31,291 toward a pension over 21 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Hefler would collect as much as $502,236, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Hefler received $10,556 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Hefler will have already received $32,628 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