Quantcast

Will County Gazette

Monday, November 25, 2024

Former state university employee O'Keefe paid in $78K to pension fund, could collect $1.37M in retirement

Money 05

Former state university employee Kenneth O'Keefe, who retired in September 2016, saved $77,866 toward a pension over 18 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, O'Keefe would collect as much as $1.37 million, according to a projection by Local Government Information Services (LGIS), which publishes Will County Gazette.

The projection assumes O'Keefe received $28,859 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, O'Keefe will have already received $89,201 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