Quantcast

Kendall County Times

Saturday, December 28, 2024

Former state university employee McLaren paid in $26K to pension fund, could collect $1.28M in retirement

Shutterstock 450769633

Former state university employee Kimberly McLaren, who retired in August 2018, saved $26,432 toward a pension over 8 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, McLaren would collect as much as $1.28 million, according to a projection by Local Government Information Services (LGIS), which publishes Kendall County Times.

The projection assumes McLaren received $26,949 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 1 years of retirement, McLaren will have already received $26,949 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