Quantcast

South Cook News

Saturday, April 20, 2024

Former state university employee Bein paid in $118K to pension fund, could collect $2.24M in retirement

Shutterstock 450769633

Former state university employee Sandra Bein, who retired in January 2019, saved $118,498 toward a pension over 26 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Bein would collect as much as $2.24 million, according to a projection by Local Government Information Services (LGIS), which publishes South Cook News.

The projection assumes Bein received $47,148 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Bein will have already received $145,729 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