Former state university employee Showers paid in $186K to pension fund, could collect $4.84M in retirement

By Local Labs News Service

Jul 1, 2018

Former state university employee Linda Showers, who retired in June 2018, saved $185,975 toward a pension over 29 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Showers would collect as much as $4.84 million, according to a projection by Local Government Information Services (LGIS), which publishes McLean County Times.

The projection assumes Showers received $101,712 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Showers will have already received $206,475 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

ORGANIZATIONS IN THIS STORY

Illinois State University

!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