Quantcast

South Cook News

Thursday, December 26, 2024

Former state university employee Myler paid in $29K to pension fund, could collect $886K in retirement

Shutterstock 121161052

Former state university employee Jennifer Myler, who retired in June 2016, saved $28,955 toward a pension over 7 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Myler would collect as much as $886,181, according to a projection by Local Government Information Services (LGIS), which publishes South Cook News.

The projection assumes Myler received $18,626 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Myler will have already received $37,811 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