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Sangamon Sun

Thursday, November 7, 2024

Former state university employee Vinson paid in $356 to pension fund, could collect $84K in retirement

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Former state university employee Anthony Vinson, who retired in May 2018, saved $356 toward a pension over 1 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Vinson would collect as much as $84,431, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Vinson received $1,774 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 1 years of retirement, Vinson will have already received $1,774 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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