Quantcast

Chambana Sun

Tuesday, April 23, 2024

Former state university employee Jinks paid in $41K to pension fund, could collect $617K in retirement

Money 06

Former state university employee Elizabeth Jinks, who retired in January 2019, saved $41,236 toward a pension over 21 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Jinks would collect as much as $616,577, according to a projection by Local Government Information Services (LGIS), which publishes Chambana Sun.

The projection assumes Jinks received $12,960 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Jinks will have already received $54,219 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