Quantcast

Metro East Sun

Friday, April 26, 2024

Former state university employee Finkelstein paid in $206K to pension fund, could collect $5.22M in retirement

Shutterstock 443523112

Former state university employee Marvin Finkelstein, who retired in January 2018, saved $206,465 toward a pension over 32 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Finkelstein would collect as much as $5.22 million, according to a projection by Local Government Information Services (LGIS), which publishes Metro East Sun.

The projection assumes Finkelstein received $109,723 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Finkelstein will have already received $222,738 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