Quantcast

McLean County Times

Sunday, April 28, 2024

Former state university employee Adams paid in $86K to pension fund, could collect $1.8M in retirement

Money 02

Former state university employee William Adams, who retired in June 2016, saved $86,183 toward a pension over 24 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Adams would collect as much as $1.8 million, according to a projection by Local Government Information Services (LGIS), which publishes McLean County Times.

The projection assumes Adams received $37,855 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Adams will have already received $117,007 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