Quantcast

Macon Reporter

Monday, December 23, 2024

Former state university employee Warren paid in $908 to pension fund, could collect $245K in retirement

Shutterstock 434242897

Former state university employee Diane Warren, who retired in June 2016, saved $908 toward a pension over 3 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Warren would collect as much as $245,306, according to a projection by Local Government Information Services (LGIS), which publishes Macon Reporter.

The projection assumes Warren received $5,156 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 1 years of retirement, Warren will have already received $5,156 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

MORE NEWS