Quantcast

East Central Reporter

Tuesday, November 26, 2024

Former state university employee Wyatt paid in $104K to pension fund, could collect $2.9M in retirement

Money 04

Former state university employee Diana Wyatt, who retired in June 2016, saved $104,022 toward a pension over 30 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Wyatt would collect as much as $2.9 million, according to a projection by Local Government Information Services (LGIS), which publishes East Central Reporter.

The projection assumes Wyatt received $60,875 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Wyatt will have already received $123,576 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