Quantcast

Metro East Sun

Wednesday, April 24, 2024

Former state university employee Barnhart paid in $42K to pension fund, could collect $565K in retirement

Money 03

Former state university employee Jennifer Barnhart, who retired in July 2017, saved $41,947 toward a pension over 15 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Barnhart would collect as much as $565,258, according to a projection by Local Government Information Services (LGIS), which publishes Metro East Sun.

The projection assumes Barnhart received $11,881 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Barnhart will have already received $49,704 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