Quantcast

Chambana Sun

Friday, April 19, 2024

Former state university employee Surratt paid in $103K to pension fund, could collect $2.09M in retirement

Money 04

Former state university employee Kaye Surratt, who retired in May 2018, saved $102,825 toward a pension over 30 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Surratt would collect as much as $2.09 million, according to a projection by Local Government Information Services (LGIS), which publishes Chambana Sun.

The projection assumes Surratt received $43,887 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Surratt will have already received $135,651 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