Quantcast

Peoria Standard

Monday, November 25, 2024

Former state university employee Jordan paid in $63K to pension fund, could collect $4.33M in retirement

Shutterstock 450769633

Former state university employee Edwina Jordan, who retired in July 2017, saved $62,845 toward a pension over 19 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Jordan would collect as much as $4.33 million, according to a projection by Local Government Information Services (LGIS), which publishes Peoria Standard.

The projection assumes Jordan received $90,918 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 1 years of retirement, Jordan will have already received $90,918 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