Quantcast

Chambana Sun

Sunday, November 24, 2024

Former state university employee Szoke paid in $23K to pension fund, could collect $1.62M in retirement

Money 08

Former state university employee Claire Szoke, who retired in April 2018, saved $23,279 toward a pension over 12 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Szoke would collect as much as $1.62 million, according to a projection by Local Government Information Services (LGIS), which publishes Chambana Sun.

The projection assumes Szoke received $34,126 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 1 years of retirement, Szoke will have already received $34,126 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