Former state university employee Homm paid in $2K to pension fund, could collect $233K in retirement

By Local Labs News Service

Feb 1, 2018

Former state university employee Myrna Homm, who retired in January 2018, saved $2,261 toward a pension over 3 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Homm would collect as much as $232,723, according to a projection by Local Government Information Services (LGIS), which publishes Metro East Sun.

The projection assumes Homm received $4,891 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 1 years of retirement, Homm will have already received $4,891 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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Lewis And Clark Community College

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