Sangamon Sun

Sangamon Sun

Saturday, December 7, 2019

Former state university employee Snyder paid in $74K to pension fund, could collect $1.07M in retirement

Schools

By Local Labs News Service | Mar 1, 2018

Money 04

Former state university employee Linda Snyder, who retired in February 2018, saved $73,691 toward a pension over 15 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Snyder would collect as much as $1.07 million, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Snyder received $22,570 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Snyder will have already received $94,423 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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