Quantcast

Sangamon Sun

Friday, April 19, 2024

Former state university employee Berry paid in $31K to pension fund, could collect $780K in retirement

Money 06

Former state university employee Linda Berry, who retired in January 2019, saved $31,378 toward a pension over 16 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Berry would collect as much as $780,427, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Berry received $16,404 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Berry will have already received $33,300 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