Quantcast

Rockford Sun

Monday, December 23, 2024

Former state university employee Perez paid in $13K to pension fund, could collect $230K in retirement

Shutterstock 450769633

Former state university employee Linda Perez, who retired in November 2016, saved $12,691 toward a pension over 16 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Perez would collect as much as $230,126, according to a projection by Local Government Information Services (LGIS), which publishes Rockford Sun.

The projection assumes Perez received $4,837 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Perez will have already received $14,950 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