Quantcast

McLean County Times

Monday, November 25, 2024

Former state university employee Bahnsen paid in $190K to pension fund, could collect $4.46M in retirement

Shutterstock 450769633

Former state university employee Jo Ellen Bahnsen, who retired in August 2018, saved $190,186 toward a pension over 27 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Bahnsen would collect as much as $4.46 million, according to a projection by Local Government Information Services (LGIS), which publishes McLean County Times.

The projection assumes Bahnsen received $93,831 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Bahnsen will have already received $190,477 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