Quantcast

Chambana Sun

Sunday, November 24, 2024

Former state university employee Badger paid in $91K to pension fund, could collect $1.34M in retirement

Shutterstock 381111379

Former state university employee Cindy Badger, who retired in June 2017, saved $91,036 toward a pension over 29 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Badger would collect as much as $1.34 million, according to a projection by Local Government Information Services (LGIS), which publishes Chambana Sun.

The projection assumes Badger received $28,197 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Badger will have already received $117,965 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