Quantcast

Macon Reporter

Sunday, November 24, 2024

Former state university employee Ferrill paid in $140K to pension fund, could collect $3.8M in retirement

Money 01

Former state university employee Chris Ferrill, who retired in June 2017, saved $140,131 toward a pension over 27 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Ferrill would collect as much as $3.8 million, according to a projection by Local Government Information Services (LGIS), which publishes Macon Reporter.

The projection assumes Ferrill received $79,778 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Ferrill will have already received $161,949 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