Quantcast

Sangamon Sun

Monday, November 25, 2024

Former state university employee Dada paid in $18K to pension fund, could collect $478K in retirement

Shutterstock 369740408

Former state university employee Yasmine Dada, who retired in July 2017, saved $17,507 toward a pension over 1 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Dada would collect as much as $478,429, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Dada received $10,056 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Dada will have already received $20,414 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