Quantcast

East Central Reporter

Wednesday, April 24, 2024

Former state university employee Swisher paid in $5K to pension fund, could collect $43K in retirement

Shutterstock 443523118

Former state university employee Richard Swisher, who retired in December 2018, saved $4,527 toward a pension over 6 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Swisher would collect as much as $42,817, according to a projection by Local Government Information Services (LGIS), which publishes East Central Reporter.

The projection assumes Swisher received $900 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 5 years of retirement, Swisher will have already received $4,780 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