Former state university employee Marks paid in $29K to pension fund, could collect $755K in retirement

By Local Labs News Service

May 1, 2018

Former state university employee Jackie Marks, who retired in April 2018, saved $28,714 toward a pension over 21 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Marks would collect as much as $755,136, according to a projection by Local Government Information Services (LGIS), which publishes Chambana Sun.

The projection assumes Marks received $15,872 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Marks will have already received $32,220 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

ORGANIZATIONS IN THIS STORY

University of Illinois at Urbana Champaign

!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