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Sangamon Sun

Thursday, May 8, 2025

Former state university employee Alexander paid in $47K to pension fund, could collect $1.11M in retirement

Money836

Former state university employee Consuelo Alexander, who retired in January 2018, saved $46,560 toward a pension over 24 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Alexander would collect as much as $1.11 million, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Alexander received $23,302 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Alexander will have already received $47,303 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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