Quantcast

Carbondale Reporter

Wednesday, May 1, 2024

Former state university employee Lucas paid in $34K to pension fund, could collect $581K in retirement

Shutterstock 369740408

Former state university employee Debra Lucas, who retired in October 2018, saved $33,998 toward a pension over 15 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Lucas would collect as much as $581,346, according to a projection by Local Government Information Services (LGIS), which publishes Carbondale Reporter.

The projection assumes Lucas received $12,219 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Lucas will have already received $37,769 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