Quantcast

West Cook News

Tuesday, November 26, 2024

Former state university employee Oltmanns paid in $49K to pension fund, could collect $1.73M in retirement

Shutterstock 373239541

Former state university employee Brigitte Oltmanns, who retired in January 2018, saved $49,143 toward a pension over 25 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Oltmanns would collect as much as $1.73 million, according to a projection by Local Government Information Services (LGIS), which publishes West Cook News.

The projection assumes Oltmanns received $36,262 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Oltmanns will have already received $73,612 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