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Metro East Sun

Friday, April 19, 2024

Former state university employee Levora paid in $12K to pension fund, could collect $180K in retirement

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Former state university employee Denise Levora, who retired in August 2017, saved $11,983 toward a pension over 6 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Levora would collect as much as $179,698, according to a projection by Local Government Information Services (LGIS), which publishes Metro East Sun.

The projection assumes Levora received $3,777 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Levora will have already received $15,801 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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