Former state university employee Brown paid in $2K to pension fund, could collect $69K in retirement

By Rock Island Today Reports

Apr 1, 2016

Former state university employee Debra Brown, who retired in March 2016, saved $2,389 toward a pension over 5 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Brown would collect as much as $69,239, according to a projection by Local Government Information Services (LGIS), which publishes Rock Island Today.

The projection assumes Brown received $1,455 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Brown will have already received $2,954 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