Quantcast

Peoria Standard

Monday, December 23, 2024

Former state university employee McIntosh paid in $27K to pension fund, could collect $327K in retirement

Shutterstock 443523118

Former state university employee Sherry McIntosh, who retired in April 2016, saved $27,169 toward a pension over 11 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, McIntosh would collect as much as $327,259, according to a projection by Local Government Information Services (LGIS), which publishes Peoria Standard.

The projection assumes McIntosh received $6,878 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, McIntosh will have already received $28,775 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