Quantcast

Carbondale Reporter

Friday, April 19, 2024

Former state university employee Wright paid in $210K to pension fund, could collect $4.53M in retirement

Shutterstock 450769633

Former state university employee Mary Wright, who retired in June 2016, saved $210,321 toward a pension over 33 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Wright would collect as much as $4.53 million, according to a projection by Local Government Information Services (LGIS), which publishes Carbondale Reporter.

The projection assumes Wright received $95,114 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Wright will have already received $293,987 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