Former state university employee Hunt paid in $4K to pension fund, could collect $98K in retirement

By Local Labs News Service

Sep 1, 2016

Former state university employee Kim Hunt, who retired in August 2016, saved $4,186 toward a pension over 11 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Hunt would collect as much as $97,624, according to a projection by Local Government Information Services (LGIS), which publishes Metro East Sun.

The projection assumes Hunt received $2,052 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Hunt will have already received $6,343 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

ORGANIZATIONS IN THIS STORY

Lewis And Clark Community College

!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