Quantcast

Chambana Sun

Monday, September 30, 2024

Former state university employee Healy paid in $53K to pension fund, could collect $727K in retirement

Shutterstock 443523118

Former state university employee Linda Healy, who retired in November 2018, saved $53,486 toward a pension over 17 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Healy would collect as much as $726,762, according to a projection by Local Government Information Services (LGIS), which publishes Chambana Sun.

The projection assumes Healy received $15,276 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Healy will have already received $63,908 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