Former state university employee Joshi paid in $23K to pension fund, could collect $313K in retirement

By East Central Reporter Reports

Apr 1, 2017

Former state university employee Amitabh Joshi, who retired in March 2017, saved $22,629 toward a pension over 5 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Joshi would collect as much as $312,599, according to a projection by Local Government Information Services (LGIS), which publishes East Central Reporter.

The projection assumes Joshi received $6,570 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Joshi will have already received $27,486 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

ORGANIZATIONS IN THIS STORY

Eastern Illinois University

!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