Quantcast

Peoria Standard

Monday, November 25, 2024

Former state university employee Rosenberger Hinchee paid in $8K to pension fund, could collect $725K in retirement

Shutterstock 381111379

Former state university employee Cynthia Rosenberger Hinchee, who retired in August 2017, saved $8,204 toward a pension over 10 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Rosenberger Hinchee would collect as much as $725,431, according to a projection by Local Government Information Services (LGIS), which publishes Peoria Standard.

The projection assumes Rosenberger Hinchee received $15,248 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 1 years of retirement, Rosenberger Hinchee will have already received $15,248 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