Quantcast

Peoria Standard

Wednesday, April 17, 2024

Former state university employee Howell paid in $400 to pension fund, could collect $7K in retirement

Shutterstock 225154648

Former state university employee Bruce Howell, who retired in November 2018, saved $400 toward a pension over 1 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Howell would collect as much as $7,421, according to a projection by Local Government Information Services (LGIS), which publishes Peoria Standard.

The projection assumes Howell received $156 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Howell will have already received $483 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