Quantcast

North Egypt News

Thursday, November 21, 2024

Former state university employee Birkner paid in $7K to pension fund, could collect $97K in retirement

Money 06

Former state university employee Cindy Birkner, who retired in October 2017, saved $6,683 toward a pension over 12 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Birkner would collect as much as $96,705, according to a projection by Local Government Information Services (LGIS), which publishes North Egypt News.

The projection assumes Birkner received $2,032 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Birkner will have already received $8,502 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