Quantcast

Metro East Sun

Monday, November 25, 2024

Former state university employee Wright paid in $43K to pension fund, could collect $593K in retirement

Money759

Former state university employee Kara Wright, who retired in October 2018, saved $43,025 toward a pension over 20 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Wright would collect as much as $592,599, according to a projection by Local Government Information Services (LGIS), which publishes Metro East Sun.

The projection assumes Wright received $12,456 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Wright will have already received $52,112 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