Former state university employee Correa De Ponce De Leon paid in $48K to pension fund, could collect $750K in retirement

By Local Labs News Service

Feb 1, 2019

Former state university employee Rosalba Correa De Ponce De Leon, who retired in January 2019, saved $47,742 toward a pension over 21 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Correa De Ponce De Leon would collect as much as $749,598, according to a projection by Local Government Information Services (LGIS), which publishes Carbondale Reporter.

The projection assumes Correa De Ponce De Leon received $15,756 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Correa De Ponce De Leon will have already received $48,701 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

ORGANIZATIONS IN THIS STORY

Southern Illinois University Carbondale

!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