Quantcast

North Cook News

Wednesday, April 17, 2024

Former state university employee Branham paid in $9K to pension fund, could collect $105K in retirement

Shutterstock 113962678

Former state university employee David Branham, who retired in January 2017, saved $8,717 toward a pension over 7 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Branham would collect as much as $105,257, according to a projection by Local Government Information Services (LGIS), which publishes North Cook News.

The projection assumes Branham received $2,212 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Branham will have already received $9,252 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