Quantcast

Carbondale Reporter

Friday, April 26, 2024

Former state university employee Crippen paid in $105K to pension fund, could collect $1.98M in retirement

Shutterstock 267646277

Former state university employee William Crippen, who retired in July 2017, saved $105,448 toward a pension over 23 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Crippen would collect as much as $1.98 million, according to a projection by Local Government Information Services (LGIS), which publishes Carbondale Reporter.

The projection assumes Crippen received $41,536 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Crippen will have already received $128,383 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