Quantcast

West Central Reporter

Wednesday, April 24, 2024

Former state university employee Hillyer paid in $92K to pension fund, could collect $1.84M in retirement

Shutterstock 249974521

Former state university employee Jeffrey Hillyer, who retired in April 2019, saved $92,414 toward a pension over 30 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Hillyer would collect as much as $1.84 million, according to a projection by Local Government Information Services (LGIS), which publishes West Central Reporter.

The projection assumes Hillyer received $38,700 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Hillyer will have already received $119,618 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