Quantcast

Peoria Standard

Friday, April 19, 2024

Former state university employee Worthington paid in $41K to pension fund, could collect $691K in retirement

Money 07

Former state university employee Leslie Worthington, who retired in June 2018, saved $41,438 toward a pension over 18 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Worthington would collect as much as $691,234, according to a projection by Local Government Information Services (LGIS), which publishes Peoria Standard.

The projection assumes Worthington received $14,529 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Worthington will have already received $44,908 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