Sangamon Sun

Sangamon Sun

Friday, December 6, 2019

Former state university employee Hill paid in $19K to pension fund, could collect $276K in retirement

Schools

By Local Labs News Service | Sep 1, 2016

Shutterstock 373239541

Former state university employee Carol Hill, who retired in August 2016, saved $18,885 toward a pension over 6 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Hill would collect as much as $276,004, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Hill received $5,801 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Hill will have already received $24,269 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 Southern Illinois University at Edwardsville ?

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

Organizations in this Story

Southern Illinois University at Edwardsville

More News