Quantcast

Chambana Sun

Monday, November 25, 2024

Former state university employee Walton paid in $115K to pension fund, could collect $2.24M in retirement

Shutterstock 233512279

Former state university employee Roy Walton, who retired in June 2017, saved $115,060 toward a pension over 26 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Walton would collect as much as $2.24 million, according to a projection by Local Government Information Services (LGIS), which publishes Chambana Sun.

The projection assumes Walton received $47,001 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Walton will have already received $145,275 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