Quantcast

Rockford Sun

Saturday, November 23, 2024

Former state university employee Turner paid in $2K to pension fund, could collect $215K in retirement

Shutterstock 113962678

Former state university employee Burnis Turner, who retired in January 2017, saved $1,788 toward a pension over 3 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Turner would collect as much as $214,643, according to a projection by Local Government Information Services (LGIS), which publishes Rockford Sun.

The projection assumes Turner received $4,511 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 1 years of retirement, Turner will have already received $4,511 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