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Sangamon Sun

Tuesday, November 26, 2024

Former state university employee Don paid in $137K to pension fund, could collect $4.6M in retirement

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Former state university employee Jarlen Don, who retired in July 2018, saved $137,113 toward a pension over 24 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Don would collect as much as $4.6 million, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Don received $96,643 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Don will have already received $196,185 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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