Chicago City Wire

Chicago City Wire

Saturday, January 25, 2020

Former state university employee Stoddard paid in $6K to pension fund, could collect $331K in retirement


By Local Labs News Service | Jan 1, 2018

Shutterstock 225154648

Former state university employee Carolyn Stoddard, who retired in December 2017, saved $5,896 toward a pension over 9 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Stoddard would collect as much as $330,553, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Stoddard received $6,948 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 1 years of retirement, Stoddard will have already received $6,948 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 University of Illinois at Urbana Champaign ?

Sign-up Next time we write about University of Illinois at Urbana Champaign, we'll email you a link to the story. You may edit your settings or unsubscribe at any time.

Organizations in this Story

University of Illinois at Urbana Champaign

More News