Quantcast

Sangamon Sun

Sunday, November 24, 2024

Former state university employee Fudala paid in $29K to pension fund, could collect $525K in retirement

Shutterstock 369740408

Former state university employee Anna Fudala, who retired in November 2017, saved $28,557 toward a pension over 14 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Fudala would collect as much as $524,536, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Fudala received $11,025 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Fudala will have already received $34,078 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