Quantcast

Chambana Sun

Monday, November 25, 2024

Former state university employee Benner paid in $79K to pension fund, could collect $1.58M in retirement

Money 03

Former state university employee Penny Benner, who retired in October 2018, saved $78,689 toward a pension over 25 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Benner would collect as much as $1.58 million, according to a projection by Local Government Information Services (LGIS), which publishes Chambana Sun.

The projection assumes Benner received $33,125 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Benner will have already received $102,387 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