Quantcast

Carbondale Reporter

Friday, April 19, 2024

Former state university employee Varvil paid in $677 to pension fund, could collect $87K in retirement

Shutterstock 385535740

Former state university employee Michelle Varvil, who retired in July 2018, saved $677 toward a pension over 1 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Varvil would collect as much as $86,988, according to a projection by Local Government Information Services (LGIS), which publishes Carbondale Reporter.

The projection assumes Varvil received $1,828 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 1 years of retirement, Varvil will have already received $1,828 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