Quantcast

Sangamon Sun

Wednesday, May 8, 2024

Former state university employee Shear paid in $24K to pension fund, could collect $425K in retirement

Money 01

Former state university employee Suzanne Shear, who retired in August 2016, saved $23,581 toward a pension over 11 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Shear would collect as much as $424,964, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Shear received $8,932 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Shear will have already received $27,608 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