Quantcast

Sangamon Sun

Thursday, May 2, 2024

Former state university employee Belleville paid in $76K to pension fund, could collect $1.08M in retirement

Money 06

Former state university employee John Belleville, who retired in May 2017, saved $76,415 toward a pension over 14 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Belleville would collect as much as $1.08 million, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Belleville received $22,655 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Belleville will have already received $94,781 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

ORGANIZATIONS IN THIS STORY

!RECEIVE ALERTS

The next time we write about any of these orgs, we’ll email you a link to the story. You may edit your settings or unsubscribe at any time.
Sign-up

DONATE

Help support the Metric Media Foundation's mission to restore community based news.
Donate

MORE NEWS