Quantcast

DeKalb Times

Tuesday, April 23, 2024

Former state university employee Hunter paid in $72K to pension fund, could collect $1.38M in retirement

Shutterstock 197358977

Former state university employee Amy Hunter, who retired in October 2018, saved $71,974 toward a pension over 29 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Hunter would collect as much as $1.38 million, according to a projection by Local Government Information Services (LGIS), which publishes DeKalb Times.

The projection assumes Hunter received $29,049 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Hunter will have already received $89,787 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