Quantcast

Lake County Gazette

Wednesday, April 24, 2024

Former state university employee Ewing paid in $153K to pension fund, could collect $3.38M in retirement

Money836

Former state university employee Carole Ewing, who retired in August 2018, saved $153,092 toward a pension over 29 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Ewing would collect as much as $3.38 million, according to a projection by Local Government Information Services (LGIS), which publishes Lake County Gazette.

The projection assumes Ewing received $71,046 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Ewing will have already received $219,595 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