Quantcast

East Central Reporter

Saturday, April 20, 2024

Former state university employee Brockhouse paid in $4K to pension fund, could collect $62K in retirement

Money 03

Former state university employee Billy Brockhouse, who retired in April 2018, saved $3,679 toward a pension over 6 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Brockhouse would collect as much as $61,537, according to a projection by Local Government Information Services (LGIS), which publishes East Central Reporter.

The projection assumes Brockhouse received $1,293 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Brockhouse will have already received $3,997 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