Quantcast

Chambana Sun

Wednesday, April 24, 2024

Former state university employee Menkhaus paid in $57K to pension fund, could collect $1.12M in retirement

Money272

Former state university employee Jane Menkhaus, who retired in March 2018, saved $56,796 toward a pension over 18 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Menkhaus would collect as much as $1.12 million, according to a projection by Local Government Information Services (LGIS), which publishes Chambana Sun.

The projection assumes Menkhaus received $23,487 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Menkhaus will have already received $72,597 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