Quantcast

Lake County Gazette

Friday, April 19, 2024

Former state university employee Haug paid in $68K to pension fund, could collect $1.34M in retirement

Money272

Former state university employee Carol Haug, who retired in August 2018, saved $67,946 toward a pension over 20 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Haug would collect as much as $1.34 million, according to a projection by Local Government Information Services (LGIS), which publishes Lake County Gazette.

The projection assumes Haug received $28,144 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Haug will have already received $86,990 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