Former state university employee Montgomery paid in $133K to pension fund, could collect $3.09M in retirement

By Local Labs News Service

Nov 1, 2018

Former state university employee Sandra Montgomery, who retired in October 2018, saved $132,863 toward a pension over 31 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Montgomery would collect as much as $3.09 million, according to a projection by Local Government Information Services (LGIS), which publishes Metro East Sun.

The projection assumes Montgomery received $64,860 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Montgomery will have already received $200,476 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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Southern Illinois University At Edwardsville

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