Quantcast

West Cook News

Saturday, November 2, 2024

Former state university employee Linden paid in $77K to pension fund, could collect $1.71M in retirement

Shutterstock 233512279

Former state university employee James Linden, who retired in June 2017, saved $76,892 toward a pension over 25 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Linden would collect as much as $1.71 million, according to a projection by Local Government Information Services (LGIS), which publishes West Cook News.

The projection assumes Linden received $35,907 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Linden will have already received $110,985 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