Former state university employee Dake paid in $41K to pension fund, could collect $1.05M in retirement

By Local Labs News Service

Feb 1, 2016

Former state university employee Connie Dake, who retired in January 2016, saved $41,057 toward a pension over 22 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Dake would collect as much as $1.05 million, according to a projection by Local Government Information Services (LGIS), which publishes Metro East Sun.

The projection assumes Dake received $22,149 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Dake will have already received $44,962 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

ORGANIZATIONS IN THIS STORY

Southern Illinois University At Edwardsville

!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