Sangamon Sun

Sangamon Sun

Friday, December 13, 2019

Former state university employee Roberts paid in $252K to pension fund, could collect $3.98M in retirement

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By Local Labs News Service | Jul 1, 2018

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Former state university employee John Roberts, who retired in June 2018, saved $252,099 toward a pension over 40 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Roberts would collect as much as $3.98 million, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Roberts received $83,700 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Roberts will have already received $258,708 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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