Former state university employee Sheffield paid in $571 to pension fund, could collect $12K in retirement

By West Cook News

Mar 1, 2019

Former state university employee Robin Sheffield, who retired in February 2019, saved $571 toward a pension over 1 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Sheffield would collect as much as $11,989, according to a projection by Local Government Information Services (LGIS), which publishes West Cook News.

The projection assumes Sheffield received $252 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Sheffield will have already received $780 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

ORGANIZATIONS IN THIS STORY

Triton College

!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