Quantcast

Sangamon Sun

Monday, September 30, 2024

Former state university employee Rusciolelli paid in $8K to pension fund, could collect $113K in retirement

Shutterstock 373239541

Former state university employee David Rusciolelli, who retired in June 2017, saved $8,354 toward a pension over 12 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Rusciolelli would collect as much as $113,410, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Rusciolelli received $2,383 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Rusciolelli will have already received $9,969 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