Sangamon Sun

Sangamon Sun

Thursday, December 5, 2019

Former state university employee Shaw paid in $7K to pension fund, could collect $94K in retirement


By Local Labs News Service | Apr 1, 2018

Money 02

Former state university employee William Shaw, who retired in March 2018, saved $6,652 toward a pension over 10 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Shaw would collect as much as $94,319, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Shaw received $1,982 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Shaw will have already received $8,290 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

Want to get notified whenever we write about Lincoln Land Community College ?

Sign-up Next time we write about Lincoln Land Community College, we'll email you a link to the story. You may edit your settings or unsubscribe at any time.

Organizations in this Story

Lincoln Land Community College

More News