Quantcast

Kane County Reporter

Thursday, November 28, 2024

Former state university employee Thompson paid in $122K to pension fund, could collect $2.48M in retirement

Shutterstock 381111379

Former state university employee Daniel Thompson, who retired in September 2017, saved $121,858 toward a pension over 24 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Thompson would collect as much as $2.48 million, according to a projection by Local Government Information Services (LGIS), which publishes Kane County Reporter.

The projection assumes Thompson received $52,176 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Thompson will have already received $161,270 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