Lake County Gazette

Lake County Gazette

Thursday, November 14, 2019

Former state university employee Forni paid in $75K to pension fund, could collect $1.44M in retirement

Schools

By Local Labs News Service | Nov 1, 2018

Shutterstock 469426916

Former state university employee Rosemary Forni, who retired in October 2018, saved $74,538 toward a pension over 30 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Forni would collect as much as $1.44 million, according to a projection by Local Government Information Services (LGIS), which publishes Lake County Gazette.

The projection assumes Forni received $30,180 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Forni will have already received $93,283 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 Illinois Mathematics & Science Academy ?

Sign-up Next time we write about Illinois Mathematics & Science Academy, we'll email you a link to the story. You may edit your settings or unsubscribe at any time.

Organizations in this Story

Illinois Mathematics & Science Academy

More News