Quantcast

Kane County Reporter

Friday, April 26, 2024

Former state university employee Badali paid in $27K to pension fund, could collect $516K in retirement

Money041

Former state university employee Vincent Badali, who retired in January 2016, saved $26,974 toward a pension over 20 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Badali would collect as much as $515,555, according to a projection by Local Government Information Services (LGIS), which publishes Kane County Reporter.

The projection assumes Badali received $10,836 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Badali will have already received $33,493 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