Quantcast

North Cook News

Friday, April 19, 2024

Former state university employee Euclide paid in $31K to pension fund, could collect $718K in retirement

Shutterstock 249974521

Former state university employee Roy Euclide, who retired in December 2016, saved $30,832 toward a pension over 20 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Euclide would collect as much as $718,278, according to a projection by Local Government Information Services (LGIS), which publishes North Cook News.

The projection assumes Euclide received $15,097 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Euclide will have already received $46,664 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