Former state university employee Block paid in $181K to pension fund, could collect $4.62M in retirement

By Local Labs News Service

Oct 1, 2016

Former state university employee Yvonne Block, who retired in September 2016, saved $180,746 toward a pension over 23 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Block would collect as much as $4.62 million, according to a projection by Local Government Information Services (LGIS), which publishes Lake County Gazette.

The projection assumes Block received $97,161 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Block will have already received $197,237 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

ORGANIZATIONS IN THIS STORY

College of Lake County

!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