Monday, February 17, 2020

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

By Local Labs News Service | Aug 1, 2016

Shutterstock 469426916

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.

Want to get notified whenever we write about University of Illinois at Springfield ?

Sign-up Next time we write about University of Illinois at Springfield, we'll email you a link to the story. You may edit your settings or unsubscribe at any time.