Quantcast

West Cook News

Monday, November 25, 2024

Former state university employee Tomal paid in $5K to pension fund, could collect $48K in retirement

Money759

Former state university employee Annette Tomal, who retired in September 2016, saved $4,785 toward a pension over 2 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Tomal would collect as much as $48,304, according to a projection by Local Government Information Services (LGIS), which publishes West Cook News.

The projection assumes Tomal received $1,015 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 5 years of retirement, Tomal will have already received $5,385 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