Quantcast

Kendall County Times

Saturday, November 23, 2024

Former state university employee Wandolowski paid in $78K to pension fund, could collect $1.36M in retirement

Shutterstock 65427295

Former state university employee John Wandolowski, who retired in January 2016, saved $77,895 toward a pension over 10 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Wandolowski would collect as much as $1.36 million, according to a projection by Local Government Information Services (LGIS), which publishes Kendall County Times.

The projection assumes Wandolowski received $28,553 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Wandolowski will have already received $88,255 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