Sangamon Sun

Sangamon Sun

Friday, December 6, 2019

Former state university employee Biangamano paid in $21K to pension fund, could collect $271K in retirement


By Local Labs News Service | Nov 1, 2017

Money 02

Former state university employee Sandra Biangamano, who retired in October 2017, saved $21,285 toward a pension over 12 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Biangamano would collect as much as $270,511, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Biangamano received $5,685 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Biangamano will have already received $23,786 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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