East Central Reporter

East Central Reporter

Monday, February 17, 2020

Former state university employee Meehling paid in $58K to pension fund, could collect $1.11M in retirement

Schools

By East Central Reporter Reports | Apr 1, 2016

Money 04

Former state university employee Melinda Meehling, who retired in March 2016, saved $57,770 toward a pension over 27 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Meehling would collect as much as $1.11 million, according to a projection by Local Government Information Services (LGIS), which publishes East Central Reporter.

The projection assumes Meehling received $23,339 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Meehling will have already received $72,138 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

Want to get notified whenever we write about Eastern Illinois University ?

Sign-up Next time we write about Eastern Illinois University, we'll email you a link to the story. You may edit your settings or unsubscribe at any time.

Organizations in this Story

Eastern Illinois University

More News