Quantcast

Quincy Reporter

Monday, November 25, 2024

Former state university employee Blackwell paid in $5K to pension fund, could collect $74K in retirement

Money836

Former state university employee Vicki Blackwell, who retired in January 2016, saved $4,848 toward a pension over 7 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Blackwell would collect as much as $73,566, according to a projection by Local Government Information Services (LGIS), which publishes Quincy Reporter.

The projection assumes Blackwell received $1,546 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Blackwell will have already received $6,467 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