Quantcast

South Cook News

Thursday, April 25, 2024

Former state university employee Heller paid in $2K to pension fund, could collect $513K in retirement

Shutterstock 373239541

Former state university employee Lauren Heller, who retired in June 2016, saved $1,723 toward a pension over 4 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Heller would collect as much as $512,786, according to a projection by Local Government Information Services (LGIS), which publishes South Cook News.

The projection assumes Heller received $10,778 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 1 years of retirement, Heller will have already received $10,778 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