Quantcast

Chambana Sun

Tuesday, April 23, 2024

Former state university employee Christensen paid in $270K to pension fund, could collect $7.7M in retirement

Shutterstock 450769633

Former state university employee Jeffrey Christensen, who retired in January 2018, saved $270,416 toward a pension over 31 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Christensen would collect as much as $7.7 million, according to a projection by Local Government Information Services (LGIS), which publishes Chambana Sun.

The projection assumes Christensen received $161,941 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Christensen will have already received $328,740 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