Quantcast

Chambana Sun

Monday, September 30, 2024

Former state university employee Fucciolo paid in $56K to pension fund, could collect $1.61M in retirement

Money836

Former state university employee Christine Fucciolo, who retired in November 2018, saved $56,493 toward a pension over 30 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Fucciolo would collect as much as $1.61 million, according to a projection by Local Government Information Services (LGIS), which publishes Chambana Sun.

The projection assumes Fucciolo received $33,888 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Fucciolo will have already received $68,793 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

MORE NEWS