Quantcast

Chambana Sun

Wednesday, April 24, 2024

Former state university employee Brown paid in $117K to pension fund, could collect $2.85M in retirement

Shutterstock 381111379

Former state university employee Catherine Brown, who retired in January 2018, saved $117,075 toward a pension over 27 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Brown would collect as much as $2.85 million, according to a projection by Local Government Information Services (LGIS), which publishes Chambana Sun.

The projection assumes Brown received $59,808 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Brown will have already received $121,410 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