Quantcast

Carbondale Reporter

Tuesday, December 24, 2024

Former state university employee Riggleman paid in $19K to pension fund, could collect $1.05M in retirement

Shutterstock 113962678

Former state university employee John Riggleman, who retired in June 2016, saved $19,049 toward a pension over 5 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Riggleman would collect as much as $1.05 million, according to a projection by Local Government Information Services (LGIS), which publishes Carbondale Reporter.

The projection assumes Riggleman received $22,086 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 1 years of retirement, Riggleman will have already received $22,086 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