Quantcast

Quincy Reporter

Monday, November 25, 2024

Former state university employee Weinant paid in $59K to pension fund, could collect $1.2M in retirement

Shutterstock 249974521

Former state university employee Cheryl Weinant, who retired in September 2018, saved $59,343 toward a pension over 29 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Weinant would collect as much as $1.2 million, according to a projection by Local Government Information Services (LGIS), which publishes Quincy Reporter.

The projection assumes Weinant received $25,260 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Weinant will have already received $78,077 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