Quantcast

Sangamon Sun

Monday, November 25, 2024

Former state university employee Biggs paid in $50K to pension fund, could collect $708K in retirement

Shutterstock 381111379

Former state university employee David Biggs, who retired in July 2017, saved $49,637 toward a pension over 13 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Biggs would collect as much as $707,819, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Biggs received $14,877 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Biggs will have already received $62,239 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