Quantcast

Will County Gazette

Friday, April 19, 2024

Former state university employee Boles paid in $32K to pension fund, could collect $478K in retirement

Money 06

Former state university employee Terri Boles, who retired in April 2017, saved $31,589 toward a pension over 12 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Boles would collect as much as $478,184, according to a projection by Local Government Information Services (LGIS), which publishes Will County Gazette.

The projection assumes Boles received $10,051 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Boles will have already received $42,052 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