Quantcast

Sangamon Sun

Saturday, September 21, 2024

Former state university employee Wilson paid in $51K to pension fund, could collect $824K in retirement

Shutterstock 249974521

Former state university employee Royann Wilson, who retired in June 2016, saved $51,082 toward a pension over 20 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Wilson would collect as much as $824,078, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Wilson received $17,321 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Wilson will have already received $53,538 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