Quantcast

Dupage Policy Journal

Wednesday, April 24, 2024

Former state university employee Soriano paid in $36K to pension fund, could collect $505K in retirement

Shutterstock 262120544

Former state university employee Filiberto Soriano, who retired in October 2018, saved $36,113 toward a pension over 13 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Soriano would collect as much as $505,387, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Soriano received $10,622 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Soriano will have already received $44,439 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