Quantcast

Metro East Sun

Sunday, November 24, 2024

Former state university employee Proffitt paid in $44K to pension fund, could collect $708K in retirement

Shutterstock 373239541

Former state university employee Dian Proffitt, who retired in January 2018, saved $43,527 toward a pension over 22 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Proffitt would collect as much as $707,847, according to a projection by Local Government Information Services (LGIS), which publishes Metro East Sun.

The projection assumes Proffitt received $14,878 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Proffitt will have already received $45,986 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