Quantcast

Metro East Sun

Thursday, April 25, 2024

Former state university employee Knopf paid in $4K to pension fund, could collect $72K in retirement

Shutterstock 121161052

Former state university employee Darla Knopf, who retired in April 2016, saved $3,601 toward a pension over 9 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Knopf would collect as much as $72,379, according to a projection by Local Government Information Services (LGIS), which publishes Metro East Sun.

The projection assumes Knopf received $1,521 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Knopf will have already received $4,702 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