Sangamon Sun

Sangamon Sun

Tuesday, February 25, 2020

Former state university employee Post paid in $115K to pension fund, could collect $3.06M in retirement

Schools

By Local Labs News Service | Feb 1, 2016

Money759

Former state university employee Donna Post, who retired in January 2016, saved $114,527 toward a pension over 26 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Post would collect as much as $3.06 million, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Post received $64,380 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Post will have already received $130,691 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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