Quantcast

Chambana Sun

Saturday, November 23, 2024

Former state university employee Swingle paid in $15K to pension fund, could collect $496K in retirement

Shutterstock 369740408

Former state university employee Pamela Swingle, who retired in November 2017, saved $15,331 toward a pension over 5 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Swingle would collect as much as $496,116, according to a projection by Local Government Information Services (LGIS), which publishes Chambana Sun.

The projection assumes Swingle received $10,428 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Swingle will have already received $21,169 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