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Metro East Sun

Sunday, November 24, 2024

Former state university employee Taylor paid in $6K to pension fund, could collect $130K in retirement

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Former state university employee Christina Taylor, who retired in January 2018, saved $6,099 toward a pension over 12 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Taylor would collect as much as $129,840, according to a projection by Local Government Information Services (LGIS), which publishes Metro East Sun.

The projection assumes Taylor received $2,729 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Taylor will have already received $8,435 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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