Former state university employee Thorpe paid in $31K to pension fund, could collect $412K in retirement

By Local Labs News Service

Feb 1, 2019

Former state university employee Clara Thorpe, who retired in January 2019, saved $31,262 toward a pension over 12 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Thorpe would collect as much as $412,193, according to a projection by Local Government Information Services (LGIS), which publishes Chambana Sun.

The projection assumes Thorpe received $8,664 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Thorpe will have already received $36,248 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