Quantcast

Kane County Reporter

Monday, November 25, 2024

Former state university employee Blay paid in $13K to pension fund, could collect $633K in retirement

Shutterstock 225154648

Former state university employee Karen Blay, who retired in January 2017, saved $12,506 toward a pension over 6 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Blay would collect as much as $632,871, according to a projection by Local Government Information Services (LGIS), which publishes Kane County Reporter.

The projection assumes Blay received $13,302 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 1 years of retirement, Blay will have already received $13,302 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