Quantcast

North Egypt News

Friday, December 27, 2024

Former state university employee White paid in $1K to pension fund, could collect $106K in retirement

Shutterstock 225154648

Former state university employee Sharon White, who retired in July 2016, saved $1,163 toward a pension over 1 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, White would collect as much as $106,068, according to a projection by Local Government Information Services (LGIS), which publishes North Egypt News.

The projection assumes White received $2,229 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 1 years of retirement, White will have already received $2,229 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