Tuesday, October 15, 2019

Former state university employee Bradley paid in $4K to pension fund, could collect $100K in retirement

By Local Labs News Service | Aug 1, 2016

Former state university employee Sylvia Bradley, who retired in July 2016, saved $4,286 toward a pension over 1 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Bradley would collect as much as $99,759, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Bradley received $2,096 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Bradley will have already received $6,479 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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