Sangamon Sun

Sangamon Sun

Tuesday, October 15, 2019

Former state university employee Keating paid in $158K to pension fund, could collect $4.1M in retirement

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By Local Labs News Service | Jul 1, 2016


Former state university employee Dana Keating, who retired in June 2016, saved $158,419 toward a pension over 34 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Keating would collect as much as $4.1 million, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Keating received $86,163 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Keating will have already received $174,911 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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