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North Egypt News

Sunday, November 24, 2024

Former state university employee Nenonen paid in $14K to pension fund, could collect $265K in retirement

Money 01

Former state university employee Anita Nenonen, who retired in June 2017, saved $14,209 toward a pension over 15 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Nenonen would collect as much as $264,985, according to a projection by Local Government Information Services (LGIS), which publishes North Egypt News.

The projection assumes Nenonen received $5,569 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Nenonen will have already received $17,213 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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