Quantcast

Chambana Sun

Thursday, April 25, 2024

Former state university employee Felkner paid in $45K to pension fund, could collect $1.27M in retirement

Shutterstock 65427295

Former state university employee Annette Felkner, who retired in December 2018, saved $45,328 toward a pension over 30 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Felkner would collect as much as $1.27 million, according to a projection by Local Government Information Services (LGIS), which publishes Chambana Sun.

The projection assumes Felkner received $26,664 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Felkner will have already received $54,128 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