Quantcast

Peoria Standard

Monday, November 25, 2024

Former state university employee Kinsinger paid in $185K to pension fund, could collect $3.91M in retirement

Shutterstock 225154648

Former state university employee Janice Kinsinger, who retired in July 2017, saved $185,405 toward a pension over 33 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Kinsinger would collect as much as $3.91 million, according to a projection by Local Government Information Services (LGIS), which publishes Peoria Standard.

The projection assumes Kinsinger received $82,224 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Kinsinger will have already received $254,147 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