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East Central Reporter

Tuesday, November 26, 2024

Former state university employee Endsley paid in $108K to pension fund, could collect $1.9M in retirement

Money759

Former state university employee Jeffrey Endsley, who retired in August 2018, saved $107,947 toward a pension over 21 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Endsley would collect as much as $1.9 million, according to a projection by Local Government Information Services (LGIS), which publishes East Central Reporter.

The projection assumes Endsley received $40,017 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Endsley will have already received $123,690 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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