Quantcast

Carbondale Reporter

Saturday, April 20, 2024

Former state university employee Snyder paid in $3K to pension fund, could collect $49K in retirement

Money 08

Former state university employee David Snyder, who retired in April 2017, saved $3,024 toward a pension over 11 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Snyder would collect as much as $49,257, according to a projection by Local Government Information Services (LGIS), which publishes Carbondale Reporter.

The projection assumes Snyder received $1,035 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Snyder will have already received $3,199 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