Quantcast

Lake County Gazette

Tuesday, April 23, 2024

Former state university employee Beckwith paid in $12K to pension fund, could collect $183K in retirement

Shutterstock 65427295

Former state university employee Gwendolyn Beckwith, who retired in January 2018, saved $12,038 toward a pension over 10 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Beckwith would collect as much as $183,243, according to a projection by Local Government Information Services (LGIS), which publishes Lake County Gazette.

The projection assumes Beckwith received $3,851 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Beckwith will have already received $16,113 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