Quantcast

West Cook News

Monday, November 25, 2024

Former state university employee Nunez paid in $109K to pension fund, could collect $2.76M in retirement

Money836

Former state university employee Iris Nunez, who retired in January 2016, saved $108,765 toward a pension over 31 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Nunez would collect as much as $2.76 million, according to a projection by Local Government Information Services (LGIS), which publishes West Cook News.

The projection assumes Nunez received $57,976 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Nunez will have already received $117,691 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