Quantcast

Will County Gazette

Monday, November 25, 2024

Former state university employee Battaglia paid in $114K to pension fund, could collect $3.43M in retirement

Shutterstock 249974521

Former state university employee Nicholas Battaglia, who retired in September 2016, saved $114,112 toward a pension over 30 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Battaglia would collect as much as $3.43 million, according to a projection by Local Government Information Services (LGIS), which publishes Will County Gazette.

The projection assumes Battaglia received $72,073 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Battaglia will have already received $146,308 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