Quantcast

McLean County Times

Friday, April 19, 2024

Former state university employee Corwin paid in $93K to pension fund, could collect $1.54M in retirement

Shutterstock 469426916

Former state university employee Catherine Corwin, who retired in September 2017, saved $92,895 toward a pension over 19 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Corwin would collect as much as $1.54 million, according to a projection by Local Government Information Services (LGIS), which publishes McLean County Times.

The projection assumes Corwin received $32,389 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Corwin will have already received $100,112 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