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West Cook News

Tuesday, May 7, 2024

Former state university employee Finkle paid in $21K to pension fund, could collect $974K in retirement

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Former state university employee Sheryl Finkle, who retired in July 2016, saved $20,922 toward a pension over 6 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Finkle would collect as much as $973,963, according to a projection by Local Government Information Services (LGIS), which publishes West Cook News.

The projection assumes Finkle received $20,472 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Finkle will have already received $41,558 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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