Sangamon Sun

Sangamon Sun

Sunday, October 20, 2019

Former state university employee Ozment paid in $7K to pension fund, could collect $627K in retirement


By Local Labs News Service | Jul 1, 2016

Former state university employee Janice Ozment, who retired in June 2016, saved $6,586 toward a pension over 4 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Ozment would collect as much as $627,447, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Ozment received $13,188 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 1 years of retirement, Ozment will have already received $13,188 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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