Quantcast

Chambana Sun

Friday, November 29, 2024

Former state university employee Rhodes paid in $73K to pension fund, could collect $1.91M in retirement

Shutterstock 434242897

Former state university employee Sue Rhodes, who retired in March 2016, saved $72,988 toward a pension over 31 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Rhodes would collect as much as $1.91 million, according to a projection by Local Government Information Services (LGIS), which publishes Chambana Sun.

The projection assumes Rhodes received $40,220 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Rhodes will have already received $81,647 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