Quantcast

Carbondale Reporter

Wednesday, November 27, 2024

Former state university employee Chapman paid in $19K to pension fund, could collect $350K in retirement

Money 05

Former state university employee Debra Chapman, who retired in August 2018, saved $18,548 toward a pension over 11 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Chapman would collect as much as $350,067, according to a projection by Local Government Information Services (LGIS), which publishes Carbondale Reporter.

The projection assumes Chapman received $7,358 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Chapman will have already received $22,743 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