Former state university employee Hill paid in $59K to pension fund, could collect $1.16M in retirement

By Local Labs News Service

Dec 1, 2016

Former state university employee Jeannie Hill, who retired in November 2016, saved $59,275 toward a pension over 22 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Hill would collect as much as $1.16 million, according to a projection by Local Government Information Services (LGIS), which publishes McLean County Times.

The projection assumes Hill received $24,408 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Hill will have already received $75,442 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

ORGANIZATIONS IN THIS STORY

Heartland Community College

!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