Quantcast

Carbondale Reporter

Wednesday, November 6, 2024

Former state university employee Snyder paid in $74K to pension fund, could collect $1.07M in retirement

Money272

Former state university employee Linda Snyder, who retired in February 2018, saved $73,691 toward a pension over 15 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Snyder would collect as much as $1.07 million, according to a projection by Local Government Information Services (LGIS), which publishes Carbondale Reporter.

The projection assumes Snyder received $22,570 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Snyder will have already received $94,423 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