Quantcast

Sangamon Sun

Monday, July 21, 2025

Former state university employee Howard paid in $2K to pension fund, could collect $43K in retirement

Shutterstock 197358977

Former state university employee Joann Howard, who retired in July 2018, saved $1,556 toward a pension over 3 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Howard would collect as much as $42,817, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Howard received $900 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Howard will have already received $1,827 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

MORE NEWS