Quantcast

Chambana Sun

Monday, November 25, 2024

Former state university employee Adams paid in $50K to pension fund, could collect $1.41M in retirement

Shutterstock 262120544

Former state university employee Laura Adams, who retired in July 2017, saved $49,920 toward a pension over 28 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Adams would collect as much as $1.41 million, according to a projection by Local Government Information Services (LGIS), which publishes Chambana Sun.

The projection assumes Adams received $29,642 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Adams will have already received $60,173 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