Quantcast

Metro East Sun

Thursday, April 25, 2024

Former state university employee McBride paid in $184K to pension fund, could collect $3.41M in retirement

Money 07

Former state university employee Regina McBride, who retired in October 2017, saved $183,502 toward a pension over 21 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, McBride would collect as much as $3.41 million, according to a projection by Local Government Information Services (LGIS), which publishes Metro East Sun.

The projection assumes McBride received $71,763 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, McBride will have already received $221,812 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