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Sangamon Sun

Thursday, November 14, 2024

Former state university employee Casper Lynn paid in $59K to pension fund, could collect $1.53M in retirement

Money041

Former state university employee Rebecca Casper Lynn, who retired in September 2017, saved $59,479 toward a pension over 32 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Casper Lynn would collect as much as $1.53 million, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Casper Lynn received $32,056 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Casper Lynn will have already received $65,074 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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