Quantcast

Rock Island Today

Saturday, June 22, 2024

Former state university employee Tredrea paid in $9K to pension fund, could collect $414K in retirement

Money272

Former state university employee Nancy Tredrea, who retired in April 2017, saved $8,973 toward a pension over 5 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Tredrea would collect as much as $413,906, according to a projection by Local Government Information Services (LGIS), which publishes Rock Island Today.

The projection assumes Tredrea received $8,700 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Tredrea will have already received $17,661 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