Quantcast

South Central Reporter

Thursday, November 14, 2024

Former state university employee Brammeier paid in $863 to pension fund, could collect $10K in retirement

Money 03

Former state university employee Stanley Brammeier, who retired in September 2017, saved $863 toward a pension over 1 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Brammeier would collect as much as $9,705, according to a projection by Local Government Information Services (LGIS), which publishes South Central Reporter.

The projection assumes Brammeier received $204 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 5 years of retirement, Brammeier will have already received $1,081 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