Former state university employee Quinn paid in $65K to pension fund, could collect $1.3M in retirement

By Local Labs News Service

Dec 1, 2018

Former state university employee Traice Quinn, who retired in November 2018, saved $65,013 toward a pension over 30 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Quinn would collect as much as $1.3 million, according to a projection by Local Government Information Services (LGIS), which publishes Chambana Sun.

The projection assumes Quinn received $27,394 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Quinn will have already received $84,672 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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University of Illinois at Urbana Champaign

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