Sangamon Sun

Sangamon Sun

Monday, February 17, 2020

Former state university employee Reardon paid in $22K to pension fund, could collect $1.01M in retirement

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By Local Labs News Service | Oct 1, 2018

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Former state university employee Judith Reardon, who retired in September 2018, saved $21,554 toward a pension over 9 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Reardon would collect as much as $1.01 million, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Reardon received $21,273 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Reardon will have already received $43,184 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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