Former state university employee Wilkins paid in $58K to pension fund, could collect $1.14M in retirement

By Local Labs News Service

Feb 1, 2016

Former state university employee Marla Wilkins, who retired in January 2016, saved $58,060 toward a pension over 22 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Wilkins would collect as much as $1.14 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Wilkins received $24,045 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Wilkins will have already received $74,320 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

ORGANIZATIONS IN THIS STORY

University of Illinois at Urbana Champaign

!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