Quantcast

Sangamon Sun

Monday, November 25, 2024

Former state university employee Walters paid in $6K to pension fund, could collect $127K in retirement

Money041

Former state university employee Donna Walters, who retired in July 2017, saved $5,995 toward a pension over 11 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Walters would collect as much as $127,380, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Walters received $2,677 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Walters will have already received $8,274 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