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North Egypt News

Sunday, November 24, 2024

Former state university employee Metzger paid in $180K to pension fund, could collect $3.33M in retirement

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Former state university employee Diane Metzger, who retired in November 2018, saved $179,932 toward a pension over 36 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Metzger would collect as much as $3.33 million, according to a projection by Local Government Information Services (LGIS), which publishes North Egypt News.

The projection assumes Metzger received $69,984 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Metzger will have already received $216,315 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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