Quantcast

DeKalb Times

Tuesday, April 16, 2024

Former state university employee Haapoja paid in $63K to pension fund, could collect $1.83M in retirement

Money 05

Former state university employee Thomas Haapoja, who retired in March 2018, saved $62,614 toward a pension over 25 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Haapoja would collect as much as $1.83 million, according to a projection by Local Government Information Services (LGIS), which publishes DeKalb Times.

The projection assumes Haapoja received $38,548 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Haapoja will have already received $78,252 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