Quantcast

East Central Reporter

Thursday, December 26, 2024

Former state university employee Moore paid in $138K to pension fund, could collect $3.45M in retirement

Money 01

Former state university employee Linda Moore, who retired in May 2016, saved $138,233 toward a pension over 30 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Moore would collect as much as $3.45 million, according to a projection by Local Government Information Services (LGIS), which publishes East Central Reporter.

The projection assumes Moore received $72,518 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Moore will have already received $147,212 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