Quantcast

McLean County Times

Sunday, April 28, 2024

Former state university employee Singer paid in $4K to pension fund, could collect $57K in retirement

Shutterstock 450769633

Former state university employee Rochelle Singer, who retired in June 2016, saved $3,884 toward a pension over 9 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Singer would collect as much as $56,553, according to a projection by Local Government Information Services (LGIS), which publishes McLean County Times.

The projection assumes Singer received $1,188 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Singer will have already received $4,972 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