Quantcast

West Cook News

Friday, April 26, 2024

Former state university employee Widuch paid in $2K to pension fund, could collect $23K in retirement

Shutterstock 450769633

Former state university employee Catherine Widuch, who retired in November 2016, saved $1,544 toward a pension over 6 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Widuch would collect as much as $22,733, according to a projection by Local Government Information Services (LGIS), which publishes West Cook News.

The projection assumes Widuch received $477 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Widuch will have already received $1,995 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