Quantcast

DeKalb Times

Saturday, November 16, 2024

Former state university employee Brinker paid in $1K to pension fund, could collect $267K in retirement

Money 08

Former state university employee Mary Brinker, who retired in July 2018, saved $1,136 toward a pension over 2 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Brinker would collect as much as $267,423, according to a projection by Local Government Information Services (LGIS), which publishes DeKalb Times.

The projection assumes Brinker received $5,621 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 1 years of retirement, Brinker will have already received $5,621 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

MORE NEWS