Former state university employee Morgan paid in $31K to pension fund, could collect $517K in retirement

By Local Labs News Service

Sep 1, 2016

Former state university employee Linda Morgan, who retired in August 2016, saved $30,535 toward a pension over 16 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Morgan would collect as much as $517,319, according to a projection by Local Government Information Services (LGIS), which publishes Metro East Sun.

The projection assumes Morgan received $10,873 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Morgan will have already received $33,607 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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