Former state university employee Johnson paid in $56K to pension fund, could collect $1.49M in retirement

By Local Labs News Service

Apr 1, 2016

Former state university employee Janette Johnson, who retired in March 2016, saved $56,446 toward a pension over 28 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Johnson would collect as much as $1.49 million, according to a projection by Local Government Information Services (LGIS), which publishes Metro East Sun.

The projection assumes Johnson received $31,230 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Johnson will have already received $63,397 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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