Quantcast

McLean County Times

Monday, May 6, 2024

Former state university employee Singley paid in $185K to pension fund, could collect $4M in retirement

Shutterstock 267646277

Former state university employee Rodger Singley, who retired in January 2016, saved $184,856 toward a pension over 27 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Singley would collect as much as $4 million, according to a projection by Local Government Information Services (LGIS), which publishes McLean County Times.

The projection assumes Singley received $83,985 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Singley will have already received $259,590 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