South Cook News

South Cook News

Wednesday, February 26, 2020

Former state university employee Straton paid in $73K to pension fund, could collect $1.17M in retirement

Schools

By Local Labs News Service | Jul 1, 2018

Shutterstock 65427295

Former state university employee Bonnie Straton, who retired in June 2018, saved $72,812 toward a pension over 14 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Straton would collect as much as $1.17 million, according to a projection by Local Government Information Services (LGIS), which publishes South Cook News.

The projection assumes Straton received $24,576 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Straton will have already received $75,961 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

Want to get notified whenever we write about Moraine Valley Community College ?

Sign-up Next time we write about Moraine Valley Community College, we'll email you a link to the story. You may edit your settings or unsubscribe at any time.

Organizations in this Story

Moraine Valley Community College

More News