Former state university employee Harris paid in $123K to pension fund, could collect $3.09M in retirement

By Rock Island Today Reports

Aug 1, 2017

Former state university employee Coleman Harris, who retired in July 2017, saved $123,115 toward a pension over 28 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Harris would collect as much as $3.09 million, according to a projection by Local Government Information Services (LGIS), which publishes Rock Island Today.

The projection assumes Harris received $64,896 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Harris will have already received $131,739 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

ORGANIZATIONS IN THIS STORY

Black Hawk College

!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