Quantcast

DeKalb Times

Friday, April 19, 2024

Former state university employee Rumer paid in $28K to pension fund, could collect $829K in retirement

Money 07

Former state university employee Connie Rumer, who retired in March 2016, saved $27,775 toward a pension over 16 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Rumer would collect as much as $828,640, according to a projection by Local Government Information Services (LGIS), which publishes DeKalb Times.

The projection assumes Rumer received $17,417 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Rumer will have already received $35,357 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