Quantcast

North Cook News

Wednesday, November 6, 2024

Former state university employee Junghans Lovero paid in $1K to pension fund, could collect $80K in retirement

Shutterstock 225154648

Former state university employee Judith Junghans Lovero, who retired in July 2016, saved $1,013 toward a pension over 1 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Junghans Lovero would collect as much as $79,692, according to a projection by Local Government Information Services (LGIS), which publishes North Cook News.

The projection assumes Junghans Lovero received $1,675 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 1 years of retirement, Junghans Lovero will have already received $1,675 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