Quantcast

Peoria Standard

Thursday, April 18, 2024

Former state university employee Lerczak paid in $9K to pension fund, could collect $593K in retirement

Money 05

Former state university employee Thomas Lerczak, who retired in July 2018, saved $9,266 toward a pension over 6 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Lerczak would collect as much as $592,850, according to a projection by Local Government Information Services (LGIS), which publishes Peoria Standard.

The projection assumes Lerczak received $12,461 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 1 years of retirement, Lerczak will have already received $12,461 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