Former state university employee O'Brien paid in $20K to pension fund, could collect $556K in retirement

By Local Labs News Service

Aug 1, 2016

Former state university employee Mary O'Brien, who retired in July 2016, saved $20,072 toward a pension over 12 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, O'Brien would collect as much as $555,713, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes O'Brien received $11,680 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, O'Brien will have already received $23,710 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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University of Illinois System Office

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