Quantcast

South Cook News

Wednesday, April 17, 2024

Former state university employee Di Clemente paid in $5K to pension fund, could collect $1.02M in retirement

Money 08

Former state university employee Rebecca Di Clemente, who retired in June 2016, saved $5,441 toward a pension over 11 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Di Clemente would collect as much as $1.02 million, according to a projection by Local Government Information Services (LGIS), which publishes South Cook News.

The projection assumes Di Clemente received $21,423 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 1 years of retirement, Di Clemente will have already received $21,423 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