Kane County Reporter

Kane County Reporter

Wednesday, December 11, 2019

Former state university employee Kirchner paid in $9K to pension fund, could collect $43K in retirement

Schools

By Local Labs News Service | Jan 1, 2019

Shutterstock 443523118

Former state university employee Cynthia Kirchner, who retired in December 2018, saved $8,524 toward a pension over 10 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Kirchner would collect as much as $42,817, according to a projection by Local Government Information Services (LGIS), which publishes Kane County Reporter.

The projection assumes Kirchner received $900 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 9 years of retirement, Kirchner will have already received $9,146 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

Want to get notified whenever we write about Elgin Community College ?

Sign-up Next time we write about Elgin Community College, we'll email you a link to the story. You may edit your settings or unsubscribe at any time.

Organizations in this Story

Elgin Community College

More News