Quantcast

Chambana Sun

Monday, November 25, 2024

Former state university employee Sergent paid in $87K to pension fund, could collect $2.16M in retirement

Money759

Former state university employee Yvonne Sergent, who retired in June 2016, saved $86,952 toward a pension over 32 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Sergent would collect as much as $2.16 million, according to a projection by Local Government Information Services (LGIS), which publishes Chambana Sun.

The projection assumes Sergent received $45,416 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Sergent will have already received $92,194 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