Former state university employee Hartman paid in $12K to pension fund, could collect $333K in retirement

By Local Labs News Service

Oct 1, 2016

Former state university employee Barbara Hartman, who retired in September 2016, saved $12,264 toward a pension over 7 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Hartman would collect as much as $332,860, according to a projection by Local Government Information Services (LGIS), which publishes McLean County Times.

The projection assumes Hartman received $6,996 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Hartman will have already received $14,202 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