Quantcast

Will County Gazette

Friday, April 19, 2024

Former state university employee Conboy paid in $2K to pension fund, could collect $51K in retirement

Shutterstock 233512279

Former state university employee Phillip Conboy, who retired in June 2016, saved $2,456 toward a pension over 6 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Conboy would collect as much as $50,884, according to a projection by Local Government Information Services (LGIS), which publishes Will County Gazette.

The projection assumes Conboy received $1,069 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Conboy will have already received $3,304 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